Why do I need to verify my external wallet?
Coinmerce has implemented a new verification measure regarding
external wallets as part of their compliance with De Nederlandsche Bank (DNB) and the Sanctions Act.
Why this measure is necessary
Legal Compliance:
All crypto providers in the Netherlands must comply with the Sanctions Act, which includes screening counterparties during transactions.
Verification Requirement: When sending cryptocurrency to an external wallet, you must verify that you own or control the wallet.
Impact on users
No Change for Internal Users:
Customers who store and do not send cryptocurrency outside Coinmerce will not be affected by this change.New Process for External Transfers:If you send cryptocurrency outside Coinmerce, you will need to complete a verification process to prove ownership of the external wallet.
Types of wallets to verify
Personal wallets:
Wallets where you own the private key (e.g., Ledger, Trezor, Exodus, Blockchain.com or Metamask).
Exchange wallets:
Wallets provided by an exchange or broker where you do not own the private key (e.g., Binance, KuCoin, Kraken).