Netherlands Central Bank: We Don’t Consider Cryptocurrency To Be Money

Netherlands Central Bank: We Don’t Consider Cryptocurrency To Be Money
ôîòî ïîêàçàíî ñ : bitcoinist.com

2018-8-4 21:30

The central bank of the Netherlands has issued new comments on cryptocurrency this week, continuing a popular narrative from the banking sector that it is “not money.”

‘Spending, Saving And Calculating’

In a video statement translated by local news outlet Dutch News, De Nederlandsche Bank divisional director Petra Hielkema said that cryptocurrency did not adequately permit three specific functions which consumers need and which are currently fulfilled by fiat currency.

“De Nederlandsche Bank does not consider cryptocurrencies to be money,” she said.

“…If something wants to be treated as money, you have to be able to spend, save and calculate with it.”

The comments follow similar statements from Swiss bank UBS this week, which stated in a report and a message to clients that Bitcoin, in particular, falls short of the remit to be considered a global form of money.

“Bitcoin is still too unstable and limited to become a viable means of payment or a mainstream asset class,” UBS strategist Joni Teves wrote Thursday quoted by CNBC.

“Owing to its lack of price stability, bitcoin falls short of criteria that need to be satisfied to be considered money.”

A Familiar Blockchain-Not-Bitcoin Story

Holland became known as a friendly jurisdiction for crypto consumer spending early on in the Bitcoin phenomenon, with multiple merchants opting to accept it for payments several years ago.

In June, Amsterdam’s Schiphol airport installed Europe’s first Bitcoin ATM in such a location.

Since then as markets have matured, regulators have adopted a more cautious approach, recently voicing concerns about token investments and legal adherence. Like various other central banking institutions meanwhile, Hielkema was palpably more upbeat about Blockchain technology.

“We have been experimenting with the technology for the past three years and have developed four prototypes,” she confirmed.

The act of championing Blockchain over Bitcoin has formed a central point of criticism from within the cryptocurrency industry, educator Andreas Antonopoulos warning that such a perspective means a party “does not understand” the space.

What do you think about De Nederlandsche Bank’s perspective on cryptocurrency? Let us know in the comments below!

Images courtesy of Shutterstock

The post Netherlands Central Bank: We Don’t Consider Cryptocurrency To Be Money appeared first on Bitcoinist.com.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Time New Bank (TNB) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.01 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Öåíà â ÷àñ íîâîñòè $ 0.0167832 (-100%)

bank cryptocurrency central money netherlands nederlandsche consider

bank cryptocurrency → Ðåçóëüòàòîâ: 126


Shilling for the Man: Why MSM Hates Crypto

Nearly every day as of late, scary headlines herald the demise of cryptocurrencies while federal governments and regulators all over the world crackdown on the enigmatic digital assets. ‘SEC Working Overtime to Take Control of Crypto Markets’, ‘People’s Bank of China Rules All Crypto-Related Trading Illegal’, ‘Russia’s Central Bank Wants to Slow Down Cryptocurrency Payments’, ‘Indian Authorities Consider Taxing Cryptocurrency Trades’, to name a few.

2021-10-5 14:01


Ôîòî:

Bank of Canada Warms To National Cryptocurrency, Will it Compete Against Bitcoin?

Leaks within the Bank of Canada show officials are considering the development of a national cryptocurrency. As such, with interest in central bank digital currencies (CBDCs) on the rise, could it threaten bitcoin? National Cryptocurrency Mike Eppel, Senior Business Editor at 680 News, has revealed that Canada’s central bank is considering the development of a.

2019-10-18 11:16


Bithumb to stop issuing virtual accounts, cites non-renewal of bank contract as reason

According to investment banking industry sources, cryptocurrency exchange platform Bithumb has decided to stop issuing new virtual accounts after 1st August. The acclaimed exchange platform, considered as one of the four biggest in South Korea, failed to renew their contract with Shinhan Bank after it got annulled. Soon after this, the exchange decided to apply […]

2018-8-2 15:47


Ôîòî:

Northern Trusts are doing their part to aid in cryptocurrency investments

U.S.-based custody bank Northern Trust is helping traditional “mainstream” hedge funds expand into cryptocurrencies, Forbes reported Tuesday. Northern Trust’s president, Pete Cherecwich, told the news organization that the financial services firm is working with three hedge funds – whose names he declined to provide – to add cryptocurrency investments to their portfolios. To that end, Northern Trust

2018-8-1 19:55


Neluns – New generation financial ecosystem

The Neluns team recently announced it’s ICO, which will be held in three stages (rounds): Pre-Sale, Pre-ICO, ICO. The mission of Neluns is to create an innovative financial ecosystem combining within itself a bank that works with fiat as well as cryptocurrencies, a cryptocurrency exchange, and insurance company, thus, creating the most beneficial conditions for the quality development of the.

2018-8-1 18:00


Neluns ICO

Neluns is a financial ecosystem, combining within itself a bank that can work with fiat and cryptocurrencies, as well as a cryptocurrency exchange and insurance company, creating the best conditions for the quality development of the cryptocurrency market, inflow of new participants and capital.

2018-8-1 12:34


Survey: 88% of Crypto Exchanges Want Regulation for the Industry to Mature

A new survey has found that 88 percent of crypto exchanges want regulation, while a third believe a market crash is a significant threat to the industry. The study, conducted by Mistertango, a crypto payment app that is regulated by the Bank of Lithuania, is based on responses from 24 cryptocurrency exchanges across Europe, Asia, […] The post Survey: 88% of Crypto Exchanges Want Regulation for the Industry to Mature appeared first on Coinjournal.

2018-8-1 00:14


Neluns – New generation financial ecosystem

The Neluns team recently announced it’s ICO, which will be held in three stages (rounds): Pre-Sale, Pre-ICO, ICO. The mission of Neluns is to create an innovative financial ecosystem combining within itself a bank that works with fiat as well as cryptocurrencies, a cryptocurrency exchange, and insurance company, thus, creating the most beneficial conditions for […] The post Neluns – New generation financial ecosystem appeared first on Ethereum World News.

2018-7-31 15:04


Ôîòî:

Bahrain Central Bank Approves Stellar As ‘Sharia Compliant’

According to reports out today, the Bahrain Central Bank (CBB) have approved the Stellar. org project as Sharia compliant. This means that under the guise of the CBB, Stellar can carry a Sharia certification that means the project and its entities are approved by Islamic law and that interaction between the Stellar project and the Islamic faith is not forbidden in anyway.

2018-7-31 13:30


Ôîòî:

Novgorod Galaxy Digital to trade on the stock market since August 1

Following “frustrating” process of receiving the final approval from Canada’s regulators, Novogratz’ cryptocurrency merchant bank Galaxy Digital gets listed on Toronto’s TSX Venture Exchange. According to the latest report from Bloomberg, Mike Novogratz’s cryptocurrency merchant bank Galaxy Digital is all set to trade on the Toronto’s TSX Venture Exchange from the 1st of August, 2018.

2018-7-31 11:55


Central Bank of Russia Identifies ‘Dozens’ of Fraudulent Cryptocurrency Schemes

Russia’s First Bank Attempting To End Fraud In The Cryptocurrency Sector Of The Country As it turns out cryptocurrency isn't going as smooth and Russia it as it has been in the United States. The former Soviet Union country, who actively participates in cryptocurrency, is having major issues with pyramid schemes and Ponzi stealing money […]

2018-7-31 11:05