The Dutch Authority for the Financial Markets published supervisory findings on crypto-asset service providers’ (CASPs) advertising and cost information, concluding that disclosures to the Dutch market remain too often incorrect, unclear or misleading despite some improvement. The AFM warned that firms that continue to breach MiCAR information standards should expect enforcement measures. The review covered advertising and fee information from 33 CASPs serving the Netherlands and identified significant shortcomings in advertising at 14 firms and significant shortcomings in cost information at 19 firms. Dutch firms concerned will receive a supervisory letter, while the AFM will inform the relevant national supervisors about deficiencies at ten international firms. Common issues included marketing that was insufficiently balanced on risks, including claims about “safe” crypto trading without adequate explanation, and fee information that was not prominently available on websites or was difficult to find without multiple clicks or external search engines. The AFM said it will maintain ongoing supervision and enforce where necessary, and its accompanying report sets out five improvement areas, including clearer substantiation, more balanced risk disclosures, and transparent, easily accessible fee information, including for services that do and do not fall under supervision.
Dutch Authority for the Financial Markets 2026-04-16
Dutch Authority for the Financial Markets finds significant MiCAR shortcomings in crypto advertising and fee disclosures across 33 CASPs
The Dutch Authority for the Financial Markets published findings on crypto-asset service providers’ advertising and cost disclosures, concluding that information to the Dutch market remains frequently incorrect, unclear or misleading. A review of 33 providers found shortcomings in advertising at 14 firms and in cost information at 19, including unbalanced risk disclosures and hard-to-find fee information. The authority warned that firms breaching Markets in Crypto-Assets Regulation information standards should expect enforcement and outlined five improvement areas, including clearer substantiation, more balanced risk disclosures and transparent, easily accessible fee information.