Dutch Crypto Firms Face MiCA License Deadline by 2025

The regulatory landscape for cryptocurrency in the Netherlands is undergoing significant changes, transitioning from a light "register and report" model to a comprehensive licensing regime that aligns with the new EU Markets in Crypto-Assets Regulation (MiCA). Since spring 2020, cryptocurrency exchanges and wallet companies in the Netherlands have been required to register with De Nederlandsche Bank (DNB) and comply with anti-money-laundering checks. However, this framework is set to evolve, with the Dutch Authority for the Financial Markets (AFM) opening its online license portal on 22 April 2024. Any licenses granted by the AFM will be effective from 30 December 2024, and by 30 December 2025, all firms serving customers in the Netherlands must hold a MiCA license issued by the AFM or another EU supervisor.

Historically, the Fifth EU Anti-Money-Laundering Directive, which entered Dutch law in May 2020, reclassified exchanges and custodians as crypto service providers under the Money-Laundering and Terrorist-Financing Act (Wwft). This required them to register with DNB, conduct know-your-customer due diligence, and submit suspicious-activity reports. While the register proved helpful, it was not comprehensive enough, leading Dutch authorities to seek stronger regulations. On 22 April 2024, the AFM began accepting MiCA applications and offered an optional "pre-scan" meeting for new businesses to address any gaps before filing. The Dutch Implementing Act for MiCA entered into force on 30 December 2024, initiating a one-year transition to the new system.

During this transition period, two layers of supervision will operate concurrently. Firms must remain on the Wwft register and adhere to DNB’s money-laundering rules while also preparing a full MiCA application. MiCA requires clear corporate governance, segregation of client assets, incident-response planning, and capital ranging from €50,000 to €150,000, depending on the services offered. Directors and large shareholders are subject to checks for honesty and competence. Tokens functioning as electronic money, such as euro-backed stablecoins, remain under DNB’s prudential supervision, while the AFM oversees their marketing. Additionally, all crypto businesses must comply with the EU "travel rule," which mandates that for any transfer of €1,000 or more, the names and wallet details of both the sender and the receiver must accompany the payment. Dutch guidance explains how to verify self-hosted wallets using test transactions or digital signatures.

Dutch law treats cryptocurrency as digital property rather than legal tender, meaning bills and salaries are still settled in euros. Private holders are taxed under "Box 3," where the tax office assesses the total value of coins and other assets on January 1st, assumes a fixed yield, and taxes that yield at 36 percent. There is no classic capital-gains tax. If mining, staking, or trading becomes a real business, the income is taxed under "Box 1" like normal earnings. Advertising rules are also tightening, with MiCA demanding that all promotions be correct, clear, and never misleading, and each advert must carry a visible risk warning. The AFM has reminded firms that over-promising returns or hiding fees is forbidden.

Despite the increasing regulatory scrutiny, the Dutch crypto culture remains vibrant. Universities in the region are testing blockchain tools for logistics, identity, and green-energy trading. Dutch apps such as Bitvavo and Bitonic are working on easy euro on-ramps through the popular iDEAL network. With over forty companies already on the DNB register, many plan to upgrade their registrations into full MiCA licenses and then "passport" their services across the European Union.

However, Dutch high-street banks still handle large crypto flows with caution, often freezing accounts until a firm proves the legal source of funds. This pushes some start-ups toward foreign e-money partners. Compliance with MiCA is also costly, requiring detailed manuals, external audits, and one-off supervisory fees. The AFM has found that many retail users underestimate risks such as sudden price swings and scam tokens.

Throughout 2025, the AFM will publish extra rulebooks detailing how to guard private keys, log incidents, handle customer complaints, and report environmental data. Firms must also connect to secure travel-rule message hubs before year-end, as missing identity data after 1 January 2026 can trigger swift penalties. The reward for compliance is significant: one Dutch MiCA license automatically opens all other EU markets, turning Amsterdam into a launch-pad for continent-wide services.

In summary, Dutch crypto oversight has evolved from a simple register in 2020 to one of Europe’s most detailed license regimes by 2025. Companies that invest early in capital strength, honest marketing, and robust security will continue operating at home and unlock the whole EU through passporting. Those that wait risk being shut out after the deadline. Readiness is quickly becoming the main competitive edge in the Dutch crypto scene.