Bitvavo
Blocked payouts and verification requirements
Bitvavo B.V. is a cryptocurrency exchange based in the Netherlands and supervised by the Dutch Central Bank (De Nederlandsche Bank).
The company is licensed as a provider of crypto asset services in accordance with the European Markets in Crypto-Assets Regulation (MiCA), which was issued by the Dutch Financial Supervisory Authority, Autoriteit Financiële Markten (AFM).
On the basis of this license, Bitvavo can offer its services throughout the European Economic Area, including Germany, by way of the European passporting offer.
In the event of a dispute, it is necessary to examine which contractual provisions are relevant and which jurisdiction rules apply. For consumers domiciled in Germany, jurisdiction rules under EU law may allow for a domestic court connection.
At Bitvavo, restrictions are often associated with money laundering checks or internal transaction analyses. The focus here is regularly on requirements regarding the source of funds (“Source of funds“) or additional proof of identity.
The account usually remains accessible; however, individual functions may be temporarily restricted, with the lack of a clear time horizon often being frustrating.
Bitvavo’s aim is to comply with legal regulations. The platform has a fundamental interest in intact customer relationships.
However, if no remedial action is taken over a longer period of time, targeted communication with a lawyer can highlight the rights of the data subject and decisively strengthen its position in the environment of numerous support requests and legal audit requirements.
Initial assessment via the online mask
You can use the online form above to describe your concerns in a structured manner. The information provided will enable an initial preliminary examination of the facts of the case and help us to assess whether and in what form legal action should be considered.
The use of the online form does not constitute a mandate and does not replace a comprehensive legal examination. Concrete prospects of success, recommendations for action or a legal assessment in individual cases will only be made after explicit commissioning.