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Supervision of crypto service providers

Toezicht op crypto-aanbieders

With cryptos being so popular, regulation and supervision are becoming even more important.

Cryptos have become very popular: almost two million Dutch people own cryptos, and they do so for various reasons. We have all heard of people who have made profits with cryptos, and that fuels the Fear Of Missing Out (FOMO) feeling. But there are also times when things go less well. Crypto values can fall sharply, crypto platforms can go bankrupt. There is no government-backed guarantee, so you may lose your money. We warn about the risks associated with cryptos.

Registration of crypto service providers

Crypto service providers operating in the Netherlands must register with DNB. If a company is not registered, we can impose a fine. In 2022 we imposed a fine on Binance, for example. We supervise registered crypto service providers, but only to a limited degree. We check whether they are doing enough to combat money laundering and that they comply with sanctions regulations. We do not check whether crypto service providers are financially sound or not. Currently, there are no rules to protect people who invest in cryptos. But international regulations are on the way. Stricter rules and supervision can never eliminate all risks, however. There are limits to what supervision and regulation can achieve. Anyone getting into cryptos must be aware of the risks. Read more about cryptos and our position on cryptos.