Laura van Geest said she won’t undercut new EU crypto laws even if that drives business from the country.
Tornado Cash Dev’s Criminal Case in Europe May Hinge on Laptop Access
Dutch prosecutors now have access to Alexey Pertsev’s computer, and are using it to probe key details, like governance and profit-making at the privacy service.
Dutch central bank says KuCoin is not licensed and ‘illegally offering services’
“This may increase the risk of customers becoming involved in money laundering or terrorist financing,” said De Nederlandsche Bank.
The Netherlands tops new survey as the most metaverse-ready country
A new study by Uswitch revealed which countries are ready to embrace the metaverse by more technical standards, such as fixed broadband speeds and prices.
Queen Máxima of the Netherlands comes out in support of digital euro
“Let us envision that better future and build a digital euro that works for all Europeans,” said the queen in virtually addressing members of the European Commission.
The state of crypto in Western Europe: Swiss powerhouse and French unicorns
From taxes and legislation to the local startups and professional associations — all you need to know about blockchain and crypto in Western Europe.
Post offices adopting NFTs leads to a philately renaissance
Nonfungible tokens are being used to reinvigorate post stamp collecting in Austria and the Netherlands.
Coinbase enters the Netherlands with central bank approval
U.S.-based crypto exchange Coinbase is approved by De Nederlandsche Bank, the central bank of the Netherlands.
Dutch authorities arrest suspected Tornado Cash developer
The Dutch Fiscal Information and Investigation Service doesn’t rule out multiple arrests in its ongoing criminal investigation against the crypto mixer Tornado Cash.
Binance fined $3M over illegal operations in the Netherlands
The Dutch central bank said that the Binance crypto exchange had a “very large number of customers in the Netherlands.”
Dutch bank ING sells digital asset tool Pyctor to GMEX
GMEX has acquired ING’s Pyctor business to connect CeFi and Defi amid the increasing demand for hybrid finance.
Dutch University set to recover more than twice the paid BTC ransom in 2019
The university reluctantly paid €200,000 in Bitcoin in December 2019 to avoid losing critical research data and resources.
New spot Bitcoin ETF launched at Euronext Amsterdam Exchange
The Jacobi Bitcoin ETF will start trading on the Euronext Amsterdam Exchange under the ticker BCOIN in July.
Coinbase to track off-exchange transactions from Dutch customers
Dutch users need to provide the recipient’s full name, the purpose of transfer and full residential address to move digital assets off the platform.
Dutch regulator says crypto not yet suitable as means of payment or investment
Paul-Willem van Gerwen from the AFM believes the retail investors should forbear the crypto derivatives trade .
Decentralizing the grid: Operators test blockchain solutions
As today’s energy market becomes decentralized, energy grid operators may need to take a Web3 approach to asset management and security.
Flower powered: Bitcoin miner heats greenhouses in the Netherlands
A greenhouse in the Netherlands warmed with Bitcoin miner waste heat brings new meaning to the word “Dutch oven.”
US firm WisdomTree lists crypto ETP on Euronext
U.S. companies are rushing to launch crypto investment products in Europe amid regulatory pushbacks at home.
Over $28.6M In Bitcoin And Other Cryptos Seized By Dutch Authorities
Dutch authorities seized over 25 million euros ($28.6) worth in Bitcoin, Ethereum, and other cryptocurrencies due to alleged criminal activity.
A Chainalysis 2021 report revealed that in 2019 the volume of illicit crypto activity represented a small 2.1% of all transactions, and in 2020 that volume fell 0.34%, but their expectation for 2021 was for “cybercriminal use of DeFi for money laundering to increase”.
just as the cryptocurrency industry is always evolving, so too are the bad actors who commit cryptocurrency-related crime.
The Fiscal Information and Investigation Service (FIOD), the National Criminal Investigation Department (DLR), and the Public Prosecution Service (OM) worked together on a mix of investigations with the intention of seizing crypto wallets linked to criminal activities.
The authorities claimed in a public announcement that they “increasingly encounter cryptocurrencies in forms of crime such as drug and human trafficking, fraud and tax evasion.”
Greater than 25 million euros in cryptocurrencies corresponding to bitcoin and ethereum have been seized from dozens of suspects.
Related Reading | Here’s What Happens To All Of The Crypto Assets The IRS Seizes
The Public Prosecution Service further commented their opinion on why cryptocurrencies are being used for criminal activities:
Possession and use of cryptocurrencies is authorized but additionally common amongst criminals. The reason being that criminals understand cryptocurrencies as nameless and they are often moved world wide shortly. Cryptocurrencies are due to this fact broadly used as a method of cost for numerous sorts of crime.
Crypto Exchanges Helped To Seize The Coins
Dutch and foreign crypto exchanges reportedly helped the FIOD and OM with the operation after the corresponding legal actions were taken.
The OM explains that these companies are “obliged to take action beneath Dutch legislation,” adding that their collaboration made it possible to access the “crypto wallets managed by criminals” and retrieve the $28.6 million worth in cryptocurrencies. The value is expected to be eventually transferred to the state treasury.
The investigation additionally revealed that criminals counteract undesirable alternate charges by changing cryptocurrencies into so-called ‘stablecoins’ corresponding to USDT. These are cryptocurrencies whose worth are linked to the U.S. greenback,
As some suspects are outside the Netherlands, the authorities called for foreign counterparts to cooperate and send them over to the country right after being identified.
In 2013, the first seize of Cryptocurrencies in the Netherlands happened. Afterward, the OM believes investigations have improved, gotten better, and faster. The investigation services have learned to collect evidence through traces left by suspects of illicit activities involving crypto. This has allowed the authorities to spot them and seize their assets.
Related Reading | Largest Crypto Seizure In Australia: Police Seize $6M Worth Of Digital Currency
A Picture Of Crypto Inside The Netherlands
A rough estimate of 700,000 Dutch people invests in bitcoin through Bitcoin Meesters, the largest crypto exchange in the Netherlands, but the total number of investors in the country remains unclear.
The Dutch central bank (DNB) has registered around 20 cryptocurrency service providers, but a spokesperson commented “It only means that the providers are not involved in criminal activities, but that is as far as monitoring goes.”
Regardless of the remarkable performance of Bitcoin over the year and the world slowly but unavoidably adapting towards cryptocurrencies, the Dutch investors association (VEB) and the DNB have been warring around Bitcoin and are not convinced of its utility, the latter expressed that the bank is “not advising for or against investment but we do have an opinion,” which is not an amicable one.
Bitcoin price at $63,748 in the daily chart | Source: BTCUSD on TradingView
Dutch central bank claims Binance is operating illegally
The warning follows authorities in several countries issuing statements warning investors to exercise caution in regards to Binance, or claiming the exchange was operating illegally.