Etoro Sluit Mijn Crypto .nl
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zol
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 zol
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(@zol)
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Hi All,

It is clear that what eToro is doing is shady, but what actions are we actually taking? 

Some are mentioning lawsuits: are you actually taking legal action against eToro? have you consulted with your lawyer? juridischloket? etc.

Some are mentioning a complaint at KIFID: have you actually complain at KIFID? how can you complain about a non-dutch company? 

 

Thanks.

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MikeW88
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(@mikew88)
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I'm no lawyer, but I think it's remarkable that eToro has not made a statement saying; "What we are doing is along the lines of the terms and conditions you have agreed with". This makes me think that it's not entirely legal.

However, I have not yet read through the terms and conditions to see if there is anything that covers a case like this.

Has anyone checked this? Does anyone affected have a background in law?

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ESMC
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 ESMC
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I think for now we should wait and see if Etoro can come up with a decent solution for us before 23/01/21 due to being pressured by us angry users with support mails, contacting our account managers and contacting the media.

Having said that, yes it would definitely be a good idea to look at the legal side of their actions and decisions, because it might be their fault in the first place for not having taken steps on time to register with DNB? I'm quite sure though that their terms and conditions will throw this in the "force majeure, it's not our fault" category of events, which so far results in pushing the negative consequences to their users. That's definitely unethical, not sure if it's illegal.  

That's why it'd be good to have someone with actual knowledge about such issues to have a look at this. If there's no one to step forward and help out from our own community, then we could of course always hire someone to do this, but that would be a next step considering we need the financial logistics to carry that out. 

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ESMC
 ESMC
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(@esmc)
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Update: We have received an email from a journalist at RTL Z. I'll get back to him.

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zol
 zol
(@zol)
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@esmc oh wow, keep us posted pls 🙂

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ESMC
 ESMC
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@zol

I will! I've told him that I/we'd be glad to answer any questions he might have. And of course, that he could also join our forum to interact with us directly 😉

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Modified
(@modified)
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@esmc I'm trying too. Please also notify them that we are searching for legal help (pro bono or paid) as this is a relatively new terrain.

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NonDutch76
(@nondutch76)
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@beeerza I will be glad to know, or even help if possible.

this is a grey area and i think they should not be allowed to just close the positions.

but they have made an offer to transfer the non-leveraged coins, but there is heavy fee due to the way the spreads are calculated. 

thannks all

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ESMC
 ESMC
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@nondutch76 They offered to transfer the non-leveraged coins? That's surprising, I just received an answer stating no such thing was possible, that only crypto assets already on a wallet could be moved.

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NonDutch76
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@esmc , yes, they asked me for the address of the wallet.

I have also asked if the wallets will be re-enabled, as they keep working with the DNB, but I am not sure what the agreement is or will be. 

to prevent problems, I have not transferred them but may have to if they can't get the DNB paperwork done in time.

they should have done this 2 years ago, last year was already late, and now we are being threatened to close our positions because they didn't get the paperwork done in time?

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ESMC
 ESMC
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@nondutch76

 

This was their initial response to my request:

Thank you for contacting eToro customer service. 
  
There is an option for eToro Wallet users in the Netherlands to move their cryptoassets out of their eToro Wallet to an alternate digital wallet or blockchain address by 11pm CET on January 23, 2021. After this date users will not have access to their eToro Wallet or the holdings.

If you encounter difficulties in moving cryptoassets from your eToro wallet to an external address, please provide us an alternate digital wallet or blockchain address and our team will review if we can transfer your cryptos. 

Furthermore, please note the address on your eToro account should match your current physical residential address. 

Thank you for understanding and cooperation. Please let us know how you would like to proceed.   

 

And this is what I received as a follow-up today:

Thank you for getting back to us. 

At this stage, new and existing eToro users in the Netherlands can no longer transfer crypto from the eToro platform to the eToro Wallet.

The transfer to an external wallet will only be possible if the cryptos are already in the wallet before the changes in the Netherlands trading regulation. 

We apologise for any inconvenience this may have caused you. 

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Hidroxid
(@hidroxid)
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Hi everyone,

from my talk with my accout manager, I felt that they know this case with DNB was their own mistake and they did not comment about why they have informed us about it so late.

They have decided not to risk anything with the Dutch crypto rules so they simply sacrifice their clients, which if we show that we are going to sue them, they might be pressured to change their actions. They could simply let us take out our crypto and problem would be solved, but they don't want money to exit their platform.

A contact from a legal entity (either phone or email) might make them re-think this case. But the time is running fast and soon they will start closing the positions if we don't act ontime.

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Monne642
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(@monne642)
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I’m in the process of a formal complaint filing against DNB, why? Because their actions on Etoro have the consequence of severe financial impact on their customers, i don’t believe this is the desired outcome of the crypto license. If you want to join the complaint we should sign a letter from all Etoro customers that are impacted by this decision and work with DNB to keep our positions open/halted while Etoro is in the process of pursuing their license.

 

De klachtencommissie van De Nederlandsche Bank (DNB) heeft uw e-mail gedateerd op 30 december 2020 in goede orde ontvangen.

Ik heb uw e-mail doorgestuurd naar de voorzitter van de klachtencommissie, de heer J.A.J. Peeters.

De klachtencommissie verzoekt u ten behoeve van haar beslissing of zij de klacht in behandeling neemt, de volgende informatie aan te leveren. Dit kan per e-mail.

  1. Wat zijn de precieze gedragingen van DNB waarop de klacht is gericht? Richt de klacht zich bijvoorbeeld tegen:
  • een specifieke handeling van DNB gericht tegen Etoro? Zo ja, kunt u dan een bewijsstuk aanleveren van die handeling van DNB, bijvoorbeeld een brief gericht aan Etoro?
  • een specifieke handeling van DNB gericht tegen u? Zo ja, kunt u dan een bewijsstuk aanleveren van die handeling van DNB, bijvoorbeeld een brief gericht aan u?
  • het algemene beleid van DNB inzake vergunningverlening aan crypto-dienstverleners, zoals Etoro er één van is
  1. Klopt het dat de klacht zich richt tegen DNB als toezichthouder? (en dus niet tegen een specifieke medewerker van DNB)
  2. Uit uw e-mail kan worden opgemaakt dat u optreedt “namens de Nederlandse klanten van Etoro”. Klopt dit inderdaad?
  3. Bent u door deze klanten formeel gemachtigd, en kunt u dat aantonen?
  4. Kunt ook aangeven welk deel van de Nederlandse klanten van Etoro dit betreft (als geschat percentage van het geheel).
  5. Als u namens Etoro de klacht indient, kunt u dan aangeven of door Etoro formeel bent gemachtigd (bijvoorbeeld als juridisch adviseur, of inhoudelijk expert), en kunt u dat aantonen?
  6. Als u namens Etoro de klacht indient, dan graag ook aangeven of Etoro een rechtspersoon is, wat het fysieke postadres is (en plaats van statutaire vestiging).
  7. Als u niet formeel optreedt namens Etoro (of de Nederlandse klanten van Etoro), gaat de klachtencommissie ervan uit dat u de klacht indient namens u zelf. Als dit inderdaad het geval is, kunt u dit dan bevestigen?
  8. Als u namens uzelf optreedt, kunt u dan uw fysieke postadres opgeven?
  9. Als u namens uzelf optreedt, kunt u dan aangeven of er een specifiek eigen belang is dat door de gedragingen van DNB wordt geraakt?

 

De klachtencommissie zal na ontvangst van de gevraagde informatie besluiten of zij uw e-mail in behandeling neemt als klacht in de zin van de klachtenregeling van DNB.

Deze klachtenregeling heb ik ter informatie aangehecht.

 

Met vriendelijke groet,

Ger Bom

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NonDutch76
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(@nondutch76)
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today, they decided to close my entire account based on thin air.

I asked them, what is the status of the DBN? They failed to produce an answer, other than telling me in two weeks they will close my positions that I had for years and have a credit running on the side...
shady and I think is not legal, might be punitive, which a judge could see. I have called a lawyer and will try more, as I have only 2 weeks and I am not going to let them do this without a fight,

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