Dutch finance minister opposes full ban on cryptocurrencies
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June 14, 2021The Dutch finance minister, Wabke Hoextra, recently said that cryptocurrency regulation in the country should not be a total ban, but should be called for regulatory oversight. Peter Hasekamp, director of the Bureau of Economic Policy Analysis (CPB) under the Dutch government, expressed his view in response to a remark calling for a complete ban. This was reported by Coinpost on the 14th.
Hazekamp of CPB, an institution that analyzes the Dutch government’s economic outlook, appealed for a complete ban on cryptocurrency trading and mining, including Bitcoin (BTC), on the 11th of last week. Cryptocurrency was criticized for its inability to function as a currency, the risk of crime, and its negative impact on the environment.
The institution is under the Ministry of Finance of the Netherlands, and the position of Hasekamp is a position appointed by the Minister. In addition, the results of analysis such as surveys were made independently of the government, and advice and the like are not compulsory.
Finance Minister Hoextra expressed his understanding of Hazekamp’s concerns, saying a full ban was “not very desirable” compared to regulatory oversight. Because of the risks of money laundering, he acknowledged that (trading) providers need rules, stating that regulating and overseeing misconduct is ‘more effective than a complete ban’.
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Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.
