The Netherlands: sanctions compliance for crypto service providers

Published

Jun 09 2020

Written By

I am a Senior Counsel focusing on compliance with anti-bribery, customs, export controls and economic sanctions regulations.

Dick Ignacio

Senior Associate
Netherlands

As a senior associate in our Trade & Customs Group in The Hague and Brussels, I am an international trade and customs lawyer focusing on a broad spectrum of trading matters on behalf of our multinational and national clients.

Brian Mulier

Partner
Netherlands

As co-head of our International Trade & Customs Group I have in-depth, long-standing experience in the full range of customs and trade related matters, sanctions regimes and the application of EU export controls. Whilst working across Europe I am based in The Hague.

Practices

Trade and Customs

Regions

Countries

Netherlands

As of May 21 (2020), the implementation of EU's 5th anti-money laundering Directive obliges providers of cryptocurrency exchanges and/or wallets to register themselves in the Netherlands. Such registration depends among others on having adequate procedures and measures of compliance with EU and Dutch sanctions laws in place, effectively making sanctions compliance more important than ever for crypto service providers in the Netherlands.

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