The Netherlands must ban cryptocurrencies right now, stated Pieter Hasekamp, the head of the Netherlands’ Bureau for Economic Policy Analysis.
According to Hasekamp, because a cryptocurrency is unavoidable, the Netherlands must act now so that they don’t experience any damage.
“For investors and the governments alike, the last person to act is the loser,” Hasekamp stated. “The Netherlands must now ban bitcoin (BTC).”
He also mentions how other countries around the world have started to take caution and steps to ban cryptocurrencies, such as Turkey for instance who banned crypto payments back in April, along with China who banned investors from offering crypto services.
According to him, these countries include reasons such as criminal use, financial instability and fraud, which is why the Netherlands is behind them.
Hasekamp further supported the ban on the possession, production and exchange of crypto. But such enforcement are quite improbably due to the fact that financial institutions don’t issue cryptocurrencies. And they’re also exchanged internationally because of their decentralized nature, therefore, the authorities don’t have control over them.
The ban would lead to an increase in the worth of cryptocurrencies, said Hasekamp. According to him, people use crypto since they believe that they will replace traditional money after some time.
Previous attempt were made in the Netherlands in order to secure the supervision of exchange platforms, however, those didn’t succeed. Back in 2018, the Minister of Finance Wopke Hoekstra did reject a ban for cryptocurrencies.