Cryptocurrency Regulation in the Netherlands: Legal Framework and MiCAR Implementation

Cryptocurrency is legal in the Netherlands, operating within a structured regulatory framework. The Dutch Central Bank (De Nederlandsche Bank, DNB) and the Netherlands Authority for the Financial Markets (AFM) oversee the sector, focusing on anti-money laundering (AML) compliance and financial stability. Since 2020, crypto service providers offering exchange or wallet services have been required to register with DNB under the Dutch Anti-Money Laundering and Anti-Terrorist Financing Act (Wwft). This registration aims to mitigate risks associated with financial crimes in the crypto sector.

The regulatory landscape is evolving with the introduction of the European Union's Markets in Crypto-Assets Regulation (MiCAR), which came into effect on 30 June 2023. MiCAR establishes a harmonized legal framework across EU member states for crypto-assets and related services. In the Netherlands, from 30 December 2024, crypto-asset service providers (CASPs) must obtain a license from the AFM or another European supervisory authority to operate legally. For providers already registered with DNB before this date, a transitional period allows continued operation until 30 June 2025, provided they apply for a MiCAR license within this timeframe.

MiCAR aims to further harmonise the regulation of crypto assets in Europe, thereby creating a level playing field and supporting innovation. At the same time, this legislative package aims to better protect consumers (1).

Under MiCAR, the AFM is responsible for supervising CASPs, ensuring they adhere to requirements such as providing clear and non-misleading information, implementing robust governance structures, and maintaining adequate capital reserves. The regulation also introduces specific provisions for different types of crypto-assets, including stablecoins, to address potential risks to financial stability. These measures are designed to enhance consumer protection and foster trust in the crypto market.

Source:
https://www.dnb.nl/en/sector-information/open-book-supervision/laws-and-eu-regulations/micar/
https://www.afm.nl/en/sector/cryptopartijen/vereisten-en-vergunningen/markets-in-crypto-assets-regulation

Last updated: 08-05-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.