Digital asset exchange Bitstamp has reportedly banned Netherlands-based users from withdrawing crypto to external wallets without first verifying they own the receiving address.
According to a letter authored by Bitstamp that was shared on Twitter by user “Bitcoin Marcus,” Bitstamp’s users in Holland must now submit third-party addresses alongside photographic evidence they own the wallet for whitelisting before withdrawals will be processed.
“Whitelisting is a security feature which was already available at Bitstamp, but now it has become obligatory for all customers affected by the new regulation in the Netherlands,” the letter stated.
Yes, this is real. People in the Netherlands now have to KYC their withdraw addresses. pic.twitter.com/S2H5Gszh9X
— Bitcoin Marcus ☣️⚡️ (@plan_marcus) January 17, 2021
Bitstamp’s new withdrawal rules are in response to anti-money laundering regulations that were drafted by Dutch regulators in November 2019 and passed into law…
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