{"id":44274,"date":"2021-06-14T13:54:27","date_gmt":"2021-06-14T10:54:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44274"},"modified":"2025-08-31T16:13:55","modified_gmt":"2025-08-31T13:13:55","slug":"dutch-finance-minister-regulating-cryptocurrencies-more-effective-than-banning-them","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/dutch-finance-minister-regulating-cryptocurrencies-more-effective-than-banning-them\/","title":{"rendered":"Dutch finance minister: regulating cryptocurrencies more effective than banning them"},"content":{"rendered":"<p>The Netherlands should regulate digital assets rather than ban them, said finance minister Wopke Hoekstra, according to <a href=\"https:\/\/www.nu.nl\/economie\/6138996\/hoekstra-ziet-geen-heil-in-verbod-op-handel-in-cryptovalutas.html\">NU<\/a>.<\/p>\n<p>The official argued that banning cryptocurrencies would only harm the Netherlands. He also acknowledged the need to enact laws for providers of services related to digital assets.<\/p>\n<p>The minister stressed that money laundering via cryptocurrencies is unacceptable.<\/p>\n<p>As previously noted, on 11 June 2021, Peter Hasenkamp, director of the Bureau for Economic Analysis at the Ministry of Economic Affairs, <a href=\"https:\/\/u1f987.com\/en\/news\/netherlands-urged-to-ban-bitcoin\">urged a ban on Bitcoin<\/a>. The official cited security concerns and fraud risks.<\/p>\n<p>In his view, digital gold has no intrinsic value, and the coin itself performs none of the three functions of money: unit of account, medium of exchange and store of value.<\/p>\n<p>In 2020, Dutch authorities required providers of cryptocurrency services to verify incoming and outgoing transactions under sanctions law. The local Bitcoin exchange Bitonic <a href=\"https:\/\/u1f987.com\/en\/news\/dutch-bitcoin-exchange-bitonic-requires-users-to-submit-wallet-screenshots\">required customers<\/a> to confirm each withdrawal address by sending a screenshot of the wallet or a signed message.<\/p>\n<p>In January 2021, <a href=\"https:\/\/u1f987.com\/en\/news\/bitonic-sues-the-dutch-central-bank\">Bitonic filed a lawsuit against the central bank<\/a>. The platform said that implementing the expanded verification protocol breached existing privacy laws.<\/p>\n<p>In April, the Rotterdam district court ordered the regulator <a href=\"https:\/\/u1f987.com\/en\/news\/court-backs-bitonic-in-dispute-with-dutch-central-bank\">to justify the requirements<\/a> imposed on cryptocurrency service providers. In May, the central bank <a href=\"https:\/\/u1f987.com\/en\/news\/dutch-central-bank-backs-off-tightening-of-rules-for-bitcoin-exchanges\">refused to tighten the rules<\/a>, calling them &#8220;not sufficiently fair&#8221;.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Netherlands should regulate digital assets rather than banning them. This was stated by the Dutch finance minister Wopke Hoekstra.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1305,718,36],"class_list":["post-44274","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-ban","tag-netherlands","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=44274"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44274\/revisions"}],"predecessor-version":[{"id":44275,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44274\/revisions\/44275"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=44274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=44274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=44274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}