An executive at the Dutch Central Bank has said that while cryptocurrencies are not “real money,” the bank has no plans to ban them, local news outlet Dutch News reported August 3.
The divisional director of the Dutch Central Bank, Petra Hielkema, told Dutch News that due to the volatility of cryptocurrencies and the possibility for consumer risks, it cannot be considered as money, “If something wants to be treated as money, you have to be able to spend, save and calculate with it […] So we do not consider it [cryptocurrency] to be money as such.” Hielkema also noted that the bank has been experimenting with blockchain — the technology behind cryptocurrencies — for the past three years and has already developed four prototypes.
Although Hielkema adds that blockchain is not ready yet to be implemented in Dutch payments systems, there are “possibilities for [it] in the future, with more innovation.” Previously this summer, the Netherlands Authority for the Financial Markets (AFM) had also underlined the “risks” associated with cryptocurrencies, noting their “serious doubts […] associated with cryptos and their management”.
In June, the Bank of Finland had released a paper where the concept of a digital currency had been called a “fallacy” that is not to be considered as “real money.”
Netherlands-based cryptocurrency exchange BLOX, announced in a blog today that it has now been included in the registry of the Dutch Central Bank (De Nederlandsche Bank). Earlier this year, the Dutch The post Dutch crypto exchange gets regulatory nod from central bank appeared first on AMBCrypto.
A report from local news outlet Dutch News published today, August 3rd, features new statements by representatives of the country’s central bank claiming that cryptocurrencies are neither real money nor a safe investment for the country’s citizens.
De Nederlandsche Bank (DNB) the central bank of The Netherlands have recently spoken out against cryptocurrencies, denying to recognise crypto as a real form of currency. According to Dutch News, Petra Hielkema, the Divisional Director at DNB has said in a report:
“If something wants to be treated as money, you have to be able to spend, save and calculate with it.
According to an executive at the Dutch financial institution ABM AMRO Bank, the banking system that we currently know may be overthrown by blockchain technology. The company is already working with financial institutions that use Hyperledger technology with the intention to offer new financial services and products, including the tokenization of securities. An executive of […]
Dutch banking behemoth, ING, believes that Bitcoin adoption is bound to increase. This belief is based on the bank’s recent survey which shows an increasing number of Europeans interested in cryptocurrency.
TradeIX has secured $16 million in an investment round led by ING Ventures, the venture capital arm of Dutch bank ING. BNP Paribas and Tech Mahindra also took part in the fund-raiser.
Instead of being scared by the nonstop nature of crypto markets, investors should see it as an exciting opportunity to grow their portfolios — especially with the help of a skilled crypto advisor who can guide you through the complexity.
The market has been gearing up for volatility before the launch of spot ETH ETFs in the US today. While ETH’s price action has been relatively uninteresting in the past few weeks, it seems that large holders are expecting price swings and are rushing to cash out.
Institutions need to broaden their holdings of crypto holdings in order to capture the full range of innovation in the market, says Felix Stratmann, head of research at Outerlands Capital.
The excitement surrounding the impending debut of spot ether ETFs in the U.S. has investors anticipating higher ether price swings relative to bitcoin.
Ether {{ETH}} is expected to experience a period of volatility this week after exchange inflows spiked to its highest level since March, according to a report by data provider CryptoQuant.
Monitoring liquidation levels is crucial during periods of price volatility, as they indicate where significant price movements can occur due to forced sell-offs or buy-ins. Tools like Coinglass’s liquidation heatmap are invaluable as they visually represent where the market holds large amounts of leveraged positions, identifying potential price points where forced liquidations will occur if […]
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