The British exchange Bitstamp has introduced an additional check for its customers in the Netherlands who want to withdraw cryptocurrency to third-party wallets. This is evidenced by a message shared by one of the users on Twitter.
"In light of the new regulation established by the Dutch government, we have made changes to the operation of the withdrawal function on Bitstamp," the company writes. – The new regulation requires us to collect proof that you are the owner of any third-party wallet or exchange account before you can withdraw cryptocurrency to them."
To confirm the ownership of the address, the user is asked to add it to the "white list" and "provide a photo proving that this is really your address". Thus, the Bitstamp system has been operating since January 15, the notification says. Previously, white lists were already available to users of the exchange, but in the past they were used to provide additional security, and now they have become a mandatory requirement for all customers in the Netherlands.
"This also means that it is no longer possible to withdraw funds from your Bitstamp account directly to third parties. First, you must withdraw the cryptocurrency from Bitstamp to your own wallet, if you want to send it to any third party, " the company adds.
In November 2020, the local exchange Bitconic introduced the same requirement for its customers. It is obvious that in its current form it is easy to get around. Nevertheless, crypto-enthusiast Matt Odell considers the policy pursued by the Dutch Bank to be an omen of a broader ban on the independent storage of cryptocurrencies. Since then, it has become officially known about the preparation of similar measures in the United States.