The Netherlands branch of Coinbase has recently revealed that Dutch users will have to give personal information out if they want to withdraw money from the platform. This sudden change in policy is due to a recognition of local regulations consideration on Coinbase’s part.
The 1977 Sanctions Act issued by the Central Bank of the Netherlands, coupled with money laundering and terrorism laws, makes it so that any and all online property firms can present personal user information for withdrawals to go through.
Although there’s a caveat to this, if a Dutch Coinbase user is transferring money from a Coinbase wallet to themselves, they don’t need to verify their identity. This new policy is reserved for transfers to other people.