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Crypto Monitoring 'More Effective' Than Outright Ban, Dutch Finance Minister Says
The minister was responding to calls by the head of Bureau for Economic Policy Analysis for a total ban.
Dutch Finance Minister Wopke Hoekstra said monitoring of crypto would be "more effective" than an outright ban.
Story continues
- Hoekstra, the Netherlands' minister of finance since 2017 and leader of the Christian Democratic Appeal party, said there is no sense in a ban that would only apply in the Netherlands, NU.nl reported Sunday.
- Monetary policy in the country is governed by the European Central Bank, and therefore a unilateral ban in a single eurozone state would have limited effect.
- Monitoring and supervising cryptocurrency would be preferable: "My observation is now that that is more effective than a total ban in the Netherlands," Hoekstra said.
- The minister was responding to calls made Friday by Pieter Hasekamp, head of the Bureau for Economic Policy Analysis, for a total ban.
- "The eventual collapse of the crypto bubble is inevitable," Hasekamp said. "The longer we wait, the greater the negative consequences of the eventual crash."
Read more: Staff at Biggest Dutch Domino’s Pizza Franchise Can Now Be Paid in Bitcoin
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
