Dutch Official Predicts Market Encryption Break, Says ‘The Netherlands Should Ban Bitcoin Now’ – Bitcoin Regulation News

Dutch Official Predicts Market Encryption Break, Says 'The Netherlands Should Ban Bitcoin Now' - Bitcoin Regulation News

The director continued: “Cryptocurrencies are essentially neither money nor a financial product, but an example of what Nobel laureate Robert Shiller calls a contagious narrative: a contagious story in which people believe because other people believe in it. Gresham’s law is replaced by Newton’s law: what goes up, must come down.” Cryptocurrencies are unsuitable as a unit of account and means of payment outside the criminal circuit; its use as a store of value is based on the hope that cryptocurrencies will one day replace real money. But that’s not going to happen. Shiller, however, recently said that he was considering getting active in the BTC market. Calling Bitcoin “an impressive technology,” the Nobel laureate said he has been tempted to get into cryptocurrency.

Hasekamp has been the director of the CPB since March 1, 2020. He was previously director-general for tax affairs at the Ministry of Finance and director of health insurance at the Ministry of Health, Welfare and Sport. The CPB is a part of the Ministry of Economic Affairs and Climate Policy. Its director is appointed by the minister, in consultation with other members of the government. However, the CPB is fully independent as far as the contents of its work are concerned, the bureau’s website states. As the country’s central planning office, the CPB does scientific research aimed at contributing to the economic decision-making process of politicians and policymakers.

After examining the use of cryptocurrencies as money, he concluded: Pieter Hasekamp, director of CPB Netherlands Bureau for Economic Policy Analysis (CPB), published an article on the official CPB website Friday titled “The Netherlands must ban bitcoin.” The article was originally written for publication in the daily newspaper Het Financieele Dagblad.

The director warned that the Netherlands is lagging behind other countries in its attempts to regulate cryptocurrency trading platforms. Hasekamp noted: “cautious regulation can also backfire: it legitimizes crypto as a bona fide financial product. Recent developments show that it is time to act: the longer we wait, the greater the negative consequences of the eventual crash.” He concluded, “The ultimate step is a total ban on production, trading and even possession of cryptocurrencies.” He further said that “Several countries are now taking steps to curb the crypto hype, due to harmful consequences – fraud, criminal use, gambling addiction, financial instability, not to mention the enormous energy waste in production.”

The ultimate collapse of the crypto bubble is inevitable … The Netherlands must ban bitcoin now. Nonetheless, Director Hasekamp emphasized:

The News Highlights

  • Dutch Official Predicts Market Encryption Break, Says ‘The Netherlands Should Ban Bitcoin Now’ – Bitcoin Regulation News
  • Check the latest News news updates and information about business, finance and more.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
The Life of a Dojo Master
The Life of a Dojo Master
“This is just an idea that popped into our heads we are trying to find something to raise money so were like maybe we should do a katathon,” said Jenny ...
Violent protests in Tunisia over the economy, spread of viruses
Violent protests in Tunisia over the economy, spread of viruses
Security forces deployed in force, especially in Tunis where police blockades blocked all streets leading to the main artery of the capital, Avenue ...
U of Illinois will open offices in India to recruit students
U of Illinois will open offices in India to recruit students
“India has one of the world’s largest economies and it has grown rapidly, presenting an excellent opportunity for the U of I System to nurture our existing ...
The largest exclusion tokens for Ethereum-based decentralized exchanges
The largest exclusion tokens for Ethereum-based decentralized exchanges
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. See more from Benzinga What’s next: SEC Chairman Gary Gensler, says ...
Sensata Technologies Reports First Quarter 2021 Financial Results
Senators rush to overcome final hurdles in infrastructure agreement
Senate Majority Leader Chuck Schumer, D-N.Y., has said he wants to pass a bipartisan package and an accompanying $3.5 trillion budget plan before the Senate ...
Q4A Cause: Hall County Fair Event Entertains and Raises Money for Good Causes |  Grand Island Local News
Q4A Cause: Hall County Fair Event Entertains and Raises Money for Good Causes | Grand Island Local News
“It is just neat how everybody helps each other out,” he said. Lindner said Hear Grand Island has had some great volunteers and supported some good ...
The mid-year stock winners and losers
The mid-year stock winners and losers
https://www.ft.com/content/1625ef6f-83d5-4a0d-8bbf-7a61b06a963b? FT stockpicking contest: winners and losers at the half way mark, with markets editor Katie ...
Discover Financial Services (NYSE: DFS) is paying higher dividends than last year
Discover Financial Services (NYSE: DFS) is paying higher dividends than last year
The company has a sustained record of paying dividends with very little fluctuation. The dividend has gone from US$0.08 in 2011 to the most recent annual ...
New Brand Names for Iredell County: July 6-17 |  local news
New Brand Names for Iredell County: July 6-17 | local news
BIG JAP’s Landscaping, Stanley Eugene Everhart, Iredell County Iredell Ambulatory Surgery Center, Iredell Cardiology, Iredell Rehab at Mooresville, Iredell ...
History of US Federal Campaign Funding
History of US Federal Campaign Funding
In the early days of the republic, soliciting money to run for office was unheard of. The only people who ran for office were wealthy elites and they tended to ...
Show next
Compsmag - Latest News from tech, business and health
Logo