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Netherlands Officials Debate: Regulate or Ban Bitcoin

Dutch_Official_Predicts_Crypto_Market_Crash,_Says_‘the_Netherlands
  • Netherlands official Pieter Hasekamp predicts a total crypto crash.
  • Thus, he urges the country to fully ban all crypto activities.
  • The nation’s finance minister however, says supervising the crypto industry will suffice.

Pieter Hasekamp, the Director of the Netherlands’ Bureau for Economic Policy Analysis, believes that Bitcoin should be banned immediately. Specifically, he predicts that the ‘ultimate collapse of the crypto bubble’ is upon the world.

In detail, the Bureau is part of the nation’s Ministry of Economic Affairs and Climate Policy. Hasekamp urges the country to stop all activities involving Bitcoin and other cryptos.

Hasekamp has been director since March 2020. Previously, he was the director-general for tax affairs at the Ministry of Finance. Additionally, he was also the director of health insurance at the Ministry of Health, Welfare, and Sport.

His rising concern over the use of crypto came upon examining the digital assets as money. In particular, he says that cryptocurrencies are not suitable as a unit of account or as a means of payment. He adds that use of cryptos is based on it, maybe someday, replacing money. However, he is sure that this will never happen.

On the other hand, the nation’s finance minister, Wopke Hoekstra says that there is no need for an outright negative response. Instead, Hoekstra proposes that the Netherlands should simply have to monitor the crypto industry.

Moreover, Hoekstra states that it would be more effective for the Netherlands to regulate Bitcoin and other cryptos instead of placing a total ban on the digital assets.

Furthermore, the minister made sure to acknowledge the director’s concern on the matter. Thus, Hoekstra proposes to create and enforce strict rules for digital asset providers so the country can guarantee minimal risks.  In addition, Hoekstra also reminds the public that a warning regarding crypto activities is already out. Back in 2017, citizens were advised to indulge in crypto-related activities at their own risk

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