Netherlands: cryptocurrencies are not “real money”, but we do not plan to ban them

Home » REGULATIONS » Netherlands: cryptocurrencies are not “real money”, but we do not plan to ban them
Netherlands: cryptocurrencies are not “real money”, but we do not plan to ban them

The representative of the Central Bank of the Netherlands stated that event though cryptocurrencies can not be treated like the real currency, the financial authorities of the country do not plan to ban them. Petra Hielkema explained that cryptocurrencies have a number of important issues to be solved (high volatility, high risks) before they can be officially considered as an alternative to real money.

If something wants to be treated as money, you have to be able to spend, save and calculate with it,’ she said. However, things are not often bought with cryptocurrencies, it is too volatile for savings and its value is expressed in real money, she said. ‘So we do not consider it to be money as such,’

Central Bank of the Netherlands president

Central Bank of the Netherlands is also aware about blockchain, an innovative technology, which can change the world. The bank representatives spent the last few years researching and testing this technology. Eventually, four experimental prototypes were developed. Unfortunately, the Dutch government does not plan to introduce blockchain in any of its systems yet.

‘Investing in cryptocurrencies is not without risk,’ Hoekstra said. ‘In contrast to savings, money put into cryptocurrencies does not fall under a deposit guarantee system and there is generally no central issuer to claim from in the event of abuse.’

  • bitcoinBitcoin$5,027.05
  • ethereumEthereum$163.55
  • rippleXRP$0.323234
  • tetherTether$1.01
  • eosEOS$5.30
  • stellarStellar$0.112966
  • litecoinLitecoin$77.54
  • cardanoCardano$0.081646
  • tronTRON$0.026079
  • moneroMonero$66.92
  • iotaIOTA$0.313566
  • nemNEM$0.063642
  • dashDash$119.82
  • neoNEO$11.07
What is Cryptocurrency? How to Use, the Future of Crypto, the History of Bitcoin
Cryptocurrency market is actively developing and expanding. This relatively new industry is causing a lot of questions and attracting a huge number of investors, businessmen and ordinary people. “What is the future of cryptocurrency?”, “How to choose cryptocurrency exchange?”, “How to sell Bitcoins?” “What about cryptocurrency mining”? Millions of people read cryptocurrency news everyday and […]
2019-04-08 0 48
What is Bitcoin?
The cryptocurrency industry is becoming more and more popular all around the world. Despite the fact that there are more than 1000 different cryptocurrencies and the number keeps growing, cryptocurrency is often associated with Bitcoin. Bitcoin is the first modern cryptocurrency in the world; it attracts thousands of users and investors from different countries. Millions […]
2019-03-20 0 46
Bitcoin, Ethereum, Ripple, Monero, Dash, Tron: major differences and features
Investors see different names of cryptocurrencies and the movement of their courses, but typically don’t even know why the digital coins are so popular. Most of us have already Googled “How to buy Bitcoin” or “How to sell Ethereum”. Cryptocurencies are becoming more and more popular: Bitcoin price is fluctuating and its value is not […]
2019-03-19 0 45
What is Blockchain?
“Giving users easy access to many different kinds of digital assets on the blockchain and, particularly, tokens that are linked to assets in the real world, is crucial to seeing blockchain adoption reach the next level, and I applaud Digix Global’s initiative in being the first of many such projects to successfully launch” – Vitalik […]
2019-03-06 0 43
© 2017–2018