Can I ask the national regulator to confirm that I need no regulatory license for my NFT project?
You can ask the Financial Markets Authority (Autoriteit Financiële markten, “AFM”) and Dutch
Central Bank (De Nederlandsche Bank, “DNB”) to confirm if a license or a registration is needed
for your NFT project.
In this context, you can also turn to the InnovationHub. This is a joint initiative by the AFM and
DNB which provides you with support on all queries you may have about supervision and
regulations relating to innovative financial products and services. You can turn to the
InnovationHub for: explanation of specific supervision rules and policies; guidance in navigating
the Dutch supervisory landscape; information on potential supervision issues, for example if you
are developing an innovative concept; and explanations of supervisory rules applying to
innovative products and services.
Yes, a person can file a query to the regulator. However, more efficient than contacting
regulatory bodies is taking the Howey Test first. If the security token framing occurs, it is
already possible to determine if the regulation applies or not.
Yes, you can ask the competent national authorities (Financial Market Authority or trade authority) if
the planned business model requires registration or license or other regulatory approval.
The FMA provides guidance for issues in relation to supervisory law on its website and a contact form
for companies. Any submissions to the financial market authority should be thoroughly prepared. In practice it can be very helpful to attach a legal memorandum from outside counsel to any request to the regulator.