Legal treatment of crypto-assets in Dutch law

This article describes the state of Dutch law following the Markets in Crypto-assets Regulation (MiCAR) in terms of regulatory aspects and the private-law status of crypto-assets. The regulatory framework is quite elaborate, with a few intentional exceptions. Crypto-assets are currently in a legal limbo in Dutch law, which complicates the requirement of segregating client assets from service provider assets. In practice, Dutch private law can mostly deal with crypto-assets despite the lack of explicit regulation by allowing damages and actions that amount to liens. Nonetheless, further legislative action might be advisable.