Important Cryptocurrency Statement by Dutch Finance Minister Hoekstra

Dutch Finance Minister Wopke Hoekstra said that he thinks banning cryptocurrencies will not work.

An important cryptocurrency statement has been made by the Dutch Finance Minister Hoekstra. Wopke Hoekstra stated that he understands the concerns about cryptocurrencies, but that he thinks that a ban will not work. Hasekamp, ​​the director of the analyst bureau that evaluates the economic policies of the Netherlands, made a statement recently and stated that cryptocurrencies, including Bitcoin, should be banned "before it's too late". Dutch Finance Minister Wopke Hoekstra said this was not true.

“It Is More Important to Control Them”

Noting the importance of controlling cryptocurrencies rather than banning them, Minister Hoekstra said: “My observations so far are that monitoring is more effective than bans. Audits to cryptocurrency owners and providers are more important. For example, since last May, the Dutch Central Bank (DNB) started to monitor companies active in this market.”

“People Should Pay Attention Now”

The Finance Minister continued his words by stating that cryptocurrencies are very volatile and can make unpredictable movements, as many experts are concerned: “People should think before investing. Cryptocurrency prices can be extremely volatile. They should be careful now at this time.”

Hasekamp: The Collapse of Cryptocurrencies Is Inevitable

The CBP director, Hasekamp, ​​continues his assessments on this issue. Hasekamp, ​​in today's column in the economic newspaper Het Financieele Dagblad, said that the collapse of cryptocurrencies is inevitable, that this collapse will result from the fact that such currencies have no value, and that it is people who make them popular. Experts other than Hoekstra are also skeptical of Hasekamp's comments. Known as a stock markets expert who commented on the subject, Jacob Schoenmaker, stated that the “no value” comments for cryptocurrencies are also valid for the euro. “Do cryptocurrencies have no real value? We can say this also for the Euro. Money has value because people trust it. The value of a 50 Euro paper bill is actually 2 cents. Of course, all this also applies to Bitcoin.”

"You Don't Have To Ban"

ING economist Teunis Brosens said the following about the subject: “When you look at the entire cryptocurrency market, you can think negatively. Because there are hundreds or even thousands of useless cryptocurrencies. Scams, pyramid schemes… So I understand the concerns felt when it comes to an overview. But to ban it would be to go too far. Because there are many regulations and penalties for scammers. You don't need to ban it"