Change in regulation of Grin (and other privacy coins) in The Netherlands

Important news for those who live in the Netherlands.
The exchange Bitcoinmeesters.nl posted that since today, 4th of September, deposits and withdrawals of the following “privacy coins” are no longer possible:

  • Monero
  • Komodo
  • Beam
  • Grin
  • PIVX

This is the result of new strict, over the top, Anti Money Laundering (AML) regulation being implemented, meaning soon other exchanges that operate in NL will follow. These regulations are clearly banana’s since for example Komodo is no longer a privacy coin. Only sub chains of Komodo can implement private transactions, not the main chain :roll_eyes:.

You can still buy and sell Grin via this exchange. However, this means that mining Grin or withdrawing Grin from exchanges without KYC, will soon be the best way in the Netherlands to buy and sell Grin to and from your local wallet.
Hopefully in due time these regulations will be modified since they are clearly out of wack.

3 Likes

Will this affect the entire EU? :thinking:

I think not. Although the AML laws in The Netherlands are based on the Europe laws, the Netherlands so far has the strictest implementation/interpretation of these European laws. The EU is working towards unified regulation in Europe so most likely in due time the regulation in The Netherlands will become less strict once the regulation becomes unified with the rest of the EU. Or at least, that is my hope🤔

Probably will. Everything is headed in the same direction: the wrong one. Some countries simply implement things before others.

I hope you are wrong. If that happens having decentralised mining, so the mini ASECs for 100 doller a piece, will become even more important so everyone can get Grin through mining🤔.
Lets hope for the best, but prepare for the worst.

Within a short period time we all are criminals for holding these assets known as privacy coins.

Crazy world. Privacy is a basic human right, time to remind our governaments.