Nederlandse cryptowet gaat consumenten beter beschermen

The Dutch government published news reporting that it has approved new regulations to better protect consumers in the cryptocurrency market.
Cryptocurrency companies will be required to adhere to certain guidelines, including avoiding misleading advertisements, providing warnings about the risks associated with crypto transactions, and obtaining licenses to operate in the European market.
Additionally, there are enhanced rules for combating money laundering and terrorism financing, obligating crypto companies to collect and retain information about buyers and sellers during transactions. The Markets in Crypto-Assets Regulation (MiCA) has been implemented to address the lack of consumer protection regulations for cryptocurrencies. The regulations will also subject cryptocurrencies and crypto companies to supervision by both the AFM and the DNB to ensure compliance with rules and adequate consumer protection.
The MiCA regulation came into effect on 29 June 2023, with gradual implementation, and the majority of its provisions will be enforced from 30 December 2024. The Transfer of Funds Regulation (TRF) will enter into force on 30 December. The regulations concerning stablecoins will apply from 30th June 2024.
The government has sent the MiCA and TRF proposals for advice to the Council of State, followed by parliamentary consideration.