Bitcoin has long been hailed as the future of currency, the most efficient and revolutionary form of payment. Its popularity has been growing exponentially, and is now accepted by over 140,000 merchants. However, despite how common it is, the bitcoin ecosystem is still in its infancy, and the technology is still being developed. In fact, the need for regulation is already at the forefront of many people’s minds.
The Dutch economy is on the brink of collapse, and it looks like that’s because of the Bitcoin trend. When the Dutch finance minister discussed the current state of the country’s economy, his main focus was on Bitcoin, the cryptocurrency.
A current top economic advisor to the Netherlands is calling for a ban on Bitcoin, even as other Central American nations are reversing course and adopting the asset. The Netherlands Treasury, which serves as the national bank, has made a call to ban Bitcoin trading, following a previous call to ban the initial coin offering (ICO) approach to fundraising in the nation. The Treasury called it a “menace.”. Read more about is cryptocurrency legal and let us know what you think.An official at the Centraal Planbureau (CPB), an independent government-funded policy body that advises the Dutch government, said today that bitcoin and other cryptocurrencies should be banned in the country. The director of the Centraal Plan Bureau (CPB), an economic research institute that advises the Dutch government, has written an essay about how the government should ban #Bitcoin and other cryptocurrencies because they have no intrinsic value and are volatilehttp://t.co/OTciTIUvl0 – Dilutionproof (@dilutionproof) June 11, 2021
Another bitcoin denier
Peter Hasekamp, director of the CPB, said today in a local Financieele Dagblad article that the cryptocurrency market is heading for imminent collapse. For investors and governments, the last to move is the loser. The Netherlands should ban bitcoin now, Hasekamp wrote. He added that the ban would discourage investors from investing in the space and eventually even end the cryptocurrency industry as a whole. Hasekamp continued to write: Ultimately, the product itself has no intrinsic value and is only attracted by its acceptance by others. The CAT director also noted that a complete ban on the production, trading and possession of cryptocurrencies would be a beneficial measure, especially since these assets are not issued by centralized financial institutions and authorities have little control over their use.
Will the government listen?
Despite Hasekemp’s criticism, the Dutch government is more in favor of cryptocurrencies. It has already launched several blockchain projects and wants to regulate the sector rather than ban it completely. Comments and concerns are mounting, meanwhile, as other nation states take a closer and very active look at Bitcoin….. are taking a closer and very active look. This week, El Salvador, a small Central American country, became the first state to officially legalize bitcoin as legal tender. Citizens can now use this asset along with the US dollar for money transfers, trade and the exchange of goods and services. Neighbouring countries Mexico and Panama, as well as the South American countries Colombia and Paraguay, also joined the choir. This week, government officials in each of these countries expressed support for Bitcoin, particularly in the form of legalization and inclusion in the broader financial economy.
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The issue over Bitcoin (BTC) is something we have covered before. Basically, it is a digital currency that is not subject to any central control. Central banks are the only parties that can print money, so any digital currency that does not have a central authority cannot be created or destroyed by them.. Read more about who runs bitcoin and let us know what you think.
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