Cryptocurrency Regulations in the Netherlands in 2026: MiCA CASP Licence and How to Stay Compliant

Gregory Lutsenko

02.05.2023 | 6 min read

Updated: 14.10.2026

Since 30 December 2024, the cryptocurrency regulations in the Netherlands have been set by the EU regulation MiCA. To provide crypto services on the Dutch market, a company needs a crypto-asset service provider (CASP) licence, which the AFM grants in the Netherlands.

The former DNB registration regime is now history. It applied from 21 May 2020, when the Netherlands implemented the 5th EU Anti-Money Laundering Directive (AMLD5) in its Wwft act (Wet ter voorkoming van witwassen en financieren van terrorisme). Companies registered with DNB could continue under a transitional rule until 30 June 2025. Now they need a MiCA licence as well.

The following guide aims to assist you in navigating the intricate web of Dutch cryptocurrency regulations, ensuring compliance with applicable laws and regulations, and avoiding the imposition of potentially significant financial penalties.

Who is impacted?

MiCA applies to everyone who provides services involving crypto-assets to clients on a professional basis. The regulation names ten such services. Each of them requires a CASP licence in the Netherlands, as everywhere in the EU.

A CASP licence under MiCA is required, in particular, for the following services:

• custody and administration of crypto-assets on behalf of clients;
• operation of a trading platform for crypto-assets;
• exchange of crypto-assets for fiat funds and for other crypto-assets;
• execution, reception and transmission of client orders, placing of crypto-assets, advice, portfolio management and transfers of crypto-assets.

Crypto-to-crypto exchange was unregulated before MiCA. It is now a crypto service just like exchange for fiat.

The regime for Initial Coin Offerings (ICO) has changed too. Anyone who offers a crypto-asset to the public in the EU must draw up a white paper for it, notify the regulator and publish it. Separate MiCA rules apply to asset-referenced tokens (ART) and e-money tokens (EMT).

If a token qualifies as a financial instrument, for example as a security, MiCA does not apply to it. Such tokens are governed by the legislation on financial instruments.

Who is the primary authority?

Since 30 December 2024, the AFM has granted licences to crypto-asset service providers in the Netherlands (Autoriteit Financiële Markten, the Dutch Authority for the Financial Markets). The AFM also supervises how crypto-asset service providers comply with the Wwft. The AFM can take enforcement measures against companies that operate without a licence.

De Nederlandsche Bank (DNB) keeps its share of supervision. It carries out prudential supervision of CASPs, including capital requirements, and assesses holders of qualifying holdings. Where a bank or an electronic money institution provides crypto services, DNB supervises it under the Wwft.

What are the crypto regulations in Netherlands?

From 2020 to 2024, the rules for crypto companies were set by the Wwft. In 2018, the EU adopted the 5th Anti-Money Laundering Directive, Directive (EU) 2018/843 of 30 May 2018. It added providers of exchange between virtual and fiat currencies and custodian wallet providers to the obliged entities. The Netherlands implemented it through an amendment to the Wwft that entered into force on 21 May 2020.

Since 30 December 2024, the main rules have been set by MiCA, Regulation (EU) 2023/1114. It replaced the Dutch DNB registration regime. When operating in the Dutch cryptocurrency market, keep the following points in mind:

1. A CASP Licence from the AFM Instead of Registration with the DNB

Registration with DNB no longer gives the right to provide crypto services. For companies already registered, the Netherlands set a transitional period of 6 months, until 30 June 2025. Since that date, every company needs a licence from the AFM or from the regulator of another EU country.

• Operating in the Netherlands with a licence from another EU country

A CASP licence is valid throughout the EU. The company submits a notification to its own regulator that it will operate in the Netherlands. It may start operating in the Netherlands after the regulator's communication on this notification, or at the latest from the 15th calendar day after submitting it.

• Serving Dutch clients from third countries

Only a company with a registered office in an EU country where it provides at least part of its services can obtain a CASP licence. Its place of effective management must also be in the EU, and at least one director must be resident in the EU.

• Preparing an application to the AFM

The AFM has accepted CASP licence applications since April 2024. In addition to the MiCA requirements, a company must comply with the Wwft: carry out customer due diligence (CDD) and report unusual transactions to the Financial Intelligence Unit (FIU) without delay.

Crypto companies must also have adequate risk management systems in place and conduct regular internal audits to assess the effectiveness of their compliance measures. In addition, they must ensure that their employees are trained to identify and report suspicious transactions.

Crypto companies also screen their clients and their transfers against national and international sanctions lists. The Sanctions Act 1977 (Sanctiewet 1977) requires this, and the AFM also supervises compliance with it by crypto-asset service providers.

Meeting these requirements matters both for obtaining the licence and for continued operation under the Dutch cryptocurrency regulations.

2. Compliance with Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT)

Crypto providers apply a risk-based approach to customer due diligence. The risks of each customer are assessed and managed individually. This involves looking at the customer's source of funds, transaction patterns and potential involvement in illegal activities.

Furthermore, crypto providers must establish procedures for the ongoing monitoring of customer transactions and the detection of suspicious activities. To do this, they regularly review customer information and transactions to spot any unusual activity in time.

Failure to comply with these requirements can result in fines, penalties and reputational damage. Crypto providers operating in the Netherlands therefore need robust AML/CFT compliance measures.

• What’s the difference between a MiCA Licence and Registration with the DNB?

Registration with DNB under the Wwft meant integrity supervision only: anti-money laundering and counter-terrorist financing. A MiCA licence is broader: it includes, for example, capital requirements and gives the right to operate throughout the EU. The minimum capital depends on the CASP class: EUR 50,000, EUR 125,000 or EUR 150,000, the highest for a trading platform. If one quarter of the previous year's fixed overheads is higher than that amount, that higher figure applies.

• What is the FATF’s Travel Rule?

FATF Recommendation 16, commonly called the Travel Rule, requires information on the originator and the beneficiary to accompany a transfer. In the EU, this rule was introduced for crypto-assets by Regulation (EU) 2023/1113.

In the EU, the rule has no amount threshold: it applies to crypto-asset transfers of any size. The regulation makes no exception even for small transfers, because a crypto-asset transfer is easy to split into parts.

Since 30 December 2024, the Crypto Travel Rule has been mandatory in the Netherlands, as in the whole EU. The AFM supervises how crypto-asset service providers comply with it.

• What Fees does the Applicant Pay?

The fees for reviewing a CASP licence application and for supervision are set by the AFM. Check their current amount with the regulator before applying.

Besides the fees, your budget needs to include the capital required by MiCA. Its amount depends on the CASP class and on the company's fixed overheads.

• How Long does the Review of an Application Take?

The review periods are set by the MiCA regulation itself. First, the AFM checks whether the application is complete and, if documents are missing, sets a deadline to provide them. The regulator then adopts a reasoned decision on the complete application: to grant the licence or to refuse it.

While the application is under review, crypto services may not be provided in the Netherlands without a licence. If an incomplete application is not supplemented in time, the AFM may refuse to review it.

• What are the Sanctions?

The AFM can take enforcement measures against companies that operate without a licence or have failed to submit a notification. The AFM also supervises compliance with the Wwft by crypto-asset service providers.

Summary:

• From 21 May 2020, crypto providers in the Netherlands registered with DNB under the Wwft as amended to implement AMLD5. This regime is now history.
• Since 30 December 2024, MiCA has applied in the Netherlands, as in the whole EU, and the AFM grants licences to crypto-asset service providers.
• The transitional period for companies registered with DNB ended on 30 June 2025. They now need a licence from the AFM or from the regulator of another EU country.
• Crypto-to-crypto exchange and public offers of tokens are regulated by MiCA, while security tokens are governed by the legislation on financial instruments.
• The Travel Rule has been mandatory in the Netherlands since 30 December 2024 under Regulation (EU) 2023/1113 and has no amount threshold.