Dutch Finance Minister Vopka Hextra appealed to the country’s parliament with a proposal to make more active use of international experience in regulating cryptocurrency.
In the Minister’s opinion, the regulatory impact on the part of government bodies should primarily be directed at protecting consumers. In particular, Hextra intends to talk with credit card issuers about the possibilities of strengthening the protection of buyers of cryptocurrencies.
The minister also proposes to introduce mandatory state registration of local crypto-exchange services and exchange sites, which, at the same time, will have to identify their clients. Implementation of these requirements, says Hextra, should be provided by all market participants until the end of next year. Among other things, the Minister proposes to adopt new laws to protect the rights of ICO-investors.
“At the moment, we are investigating whether ICO investors can also be well protected, as participants in traditional IPOs or bondholders. Currently, there are not enough norms for this, “the official said.
In addition, the minister proposed to ban the promotion of “potentially risky” and speculative financial products, and also promised to join forces with other EU countries to study the “transboundary nature” of this market.