Dutch judge upholds Bitonic's objections and calls on DNB to review its requirement

Thursday 8 April 2021 09:51 CET | News

The Preliminary Relief Judge of the Rotterdam District Court has acknowledged Bitonic’s objections and doubts about the registration procedure and the legality of the wallet verification requirement set by the Dutch Central Bank (DNB).

Bitonic is a Netherlands-based crypto provider, officially listed in the crypto-register of the Dutch Central Bank (DNB). The judge acknowledged that the wallet verification requirement was indeed part of the registration process, and that Bitonic therefore had every right to object to it.

Secondly, the judge acknowledges that Bitonic has an urgent interest in challenging the registration requirement, according to the crypto company’s blog. Although the court did not rule to immediately suspend the wallet verification requirement, DNB is obliged to take a decision on Bitonic's objections within six weeks.

Moreover, the court orders DNB to reimburse the legal costs.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: DNB, Bitonic, Bitcoin, e-wallet, KYC, AML, identity verification
Categories: DeFi & Crypto & Web3
Countries: Netherlands
This article is part of category

DeFi & Crypto & Web3