Dutch Finance Minister Resists on Cryptocurrency Ban

Dutch Finance Minister Resist on Cryptocurrency Ban

Wopke Hoekstra, Dutch Finance Minister raised voice against the cryptocurrency ban in the country.  Instead he suggested an effective regulation for crypto rather than total ban.

Pieter Hasekamp, Netherland’s local officials advocated a total ban on cryptocurrency. The local news agency NU.nl shared the report last Friday. The reason he shared was because of the dangers associated with money laundering. Adding, he is also concerned about the unavoidable collapse in the crypto market.

Moreover, the Minister shares an opposing view regarding the cryptocurrency ban. He suggests the government must have a broader view on the crypto industry at European level. Along with this, Wopke Hoekstra adds, 

“My observation is now that supervision is more effective than a total ban in the Netherlands.” The focus should be on the provision of laws that offer more protection to consumers and investors.”

Earlier in 2017, Wopke Hoekstra raised a warning against the risks associated with the crypto market. Also stressed  that the investors must know their bets on crypto are at their own risk and expense.

Specific Ban for Bitcoin in Netherland

As per the report, Hasekamp argued to  the Dutch Authorities to impose an immediate ban on the crypto- related activities especially for Bitcoin. Some crucial crypto arguments states, Bitcoin is not helpful to be used as any means of money. 

However, believing these false arguments, Hasekamp raises a crypto ban. To be noted, world’s famous Bitcoin skeptic Nouriel Roubini confessed, Bitcoin is efficient to serve as a store of value and  medium of payment in future. 

Besides, the current market status of digital currency reflects a huge impact on the investors. As it causes more fluctuations in the cryptocurrency prices. Hasekamp points out a real example of Bitcoin price which sloped down in recent weeks.

Recommended for you

A responsible HR Admin with good experience in an international pharmaceutical company. She is passionate about dedicating her time to share her perspective about crypto and blockchain technology.