TITLE: Netherlands Financial Authority Identifies Deficiencies in Cryptocurrency Service Providers' Marketing and Cost Disclosures
BODY:
On April 16, 2026, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, AFM) published findings from its investigation into advertising communications and cost information provided by crypto-asset service providers (CASPs).
The AFM examined advertising materials and cost disclosures from 33 CASPs, identifying significant deficiencies at 14 providers regarding advertising communications and at 19 providers regarding cost information. The investigation found that many CASPs continue to provide inaccurate, unclear, or misleading information, despite previous improvement efforts. Common issues included advertising that referenced "safe" cryptocurrency trading without adequately explaining associated risks, and cost information that was either unavailable on websites or difficult to locate. The AFM noted that under the Markets in Crypto-Assets Regulation (MiCAR), CASPs must provide "correct, clear and non-misleading information" and prominently display cost information on their websites.
The AFM expressed concern that while some providers demonstrate genuine improvement efforts, too many CASPs remain non-compliant. Hanzo van Beusekom, board member at the AFM, stated that "the room for leniency has now been used" and that the sector must take responsibility for compliance.
Dutch CASPs identified with deficiencies will receive supervisory letters. For ten international providers serving the Dutch market, the AFM will notify relevant national supervisors of the identified shortcomings. The AFM published five improvement recommendations, including ensuring risks are clearly and proportionately described, making cost information easily accessible, and maintaining transparency regarding services falling within and outside regulatory oversight. The AFM will conduct ongoing supervision and implement enforcement measures where necessary.