{"id":271992,"date":"2021-06-11T13:52:42","date_gmt":"2021-06-11T10:52:42","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dutch-official-calls-for-complete-ban-on-bitcoin\/"},"modified":"2021-06-11T13:52:42","modified_gmt":"2021-06-11T10:52:42","slug":"dutch-official-calls-for-complete-ban-on-bitcoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dutch-official-calls-for-complete-ban-on-bitcoin\/","title":{"rendered":"# Dutch official calls for complete ban on Bitcoin"},"content":{"rendered":"<p>&#8220;<strong># Dutch official calls for complete ban on Bitcoin <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvNDc4Y2UxZDktYjAwYy00YjA2LWIxOTItZWQ3ZjY4NThkYzUyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>While\u00a0El Salvador adopts Bitcoin\u00a0as legal tender, one Dutch official blasted the cryptocurrency, calling for an urgent blanket ban.<\/p>\n<p>Pieter Hasekamp, director of the Dutch Bureau for Economic Analysis under the Ministry of Economic Affairs and Climate Policy, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cpb.nl\/nederland-moet-de-bitcoin-in-de-ban-doen\">published<\/a>\u00a0an essay entitled \u201cThe Netherlands must ban bitcoin.\u201d<\/p>\n<p>In line with the essay\u2019s title, Hasekamp lists a wide list of reasons why the Dutch government must enforce an im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te total ban on mining, trading and holding Bitcoin (BTC). According to the official, this could cause the price to plummet because Bitcoin \u201chas no intrinsic value and is only valuable because others may accept it.\u201d<\/p>\n<p>The executive cited a common anti-crypto narrative, arguing that any cryptocurrency is unable to fulfill any of the three functions of money as a unit of account, means of payment and store of value. He also cited other common anti-Bitcoin arguments, such as security concerns, risks of fraud and scams, and argued that the crypto is useful tool for criminal actors.<\/p>\n<p>Hasekamp said that the Netherlands has been lagging behind countries that have moved to \u201ccurb the crypto hype\u201d in recent years. \u201cDutch regulators attempted to tighten up the supervision of trading platforms, but without much success. The Central Planning Bureau pointed out the risks of crypto trading in 2018, but concluded that stricter regulation was not yet necessary,\u201d the official wrote.<\/p>\n<p><strong><em>Related:\u00a0Dutch regulators unsure of number of crypto investors in Netherlands<\/em><\/strong><\/p>\n<p>In his essay, Hasekamp paid special attention to Gresham\u2019s law, a monetary principle that states that overvalued currency, or \u201cbad money,\u201d tends to drive a legally undervalued currency, or \u201cgood money,\u201d out of circulation. Calling Bitcoin \u201cbad money,\u201d Hasekamp argued that\u00a0Gresham\u2019s law could work the opposite way with Bitcoin:<\/p>\n<blockquote><p>\u201cCryptocurrencies demonstrate all the hallmarks of \u2018bad money\u2019: unclear origin, uncertain valuation, shady trading practices. [&#8230;] Is Gresham\u2019s law back? No, on the contrary. Cryptocurrencies are not used in regular payment transactions. [&#8230;] Bad money dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears from circulation because nobody wants to accept it anymore.\u201d<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/dutch-official-calls-for-complete-ban-on-bitcoin\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Dutch official calls for complete ban on Bitcoin &#8221; While\u00a0El Salvador adopts Bitcoin\u00a0as legal tender, one Dutch official blasted the cryptocurrency, calling for an urgent blanket ban. Pieter Hasekamp, director of the Dutch Bureau for Economic Analysis under the Ministry of Economic Affairs and Climate Policy, published\u00a0an essay entitled \u201cThe Netherlands must ban bitcoin.\u201d&#8230;<\/p>\n","protected":false},"author":1,"featured_media":271993,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvNDc4Y2UxZDktYjAwYy00YjA2LWIxOTItZWQ3ZjY4NThkYzUyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,75042,71511,18776,70934],"class_list":["post-271992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-mining","tag-government","tag-netherlands","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/271992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=271992"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/271992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/271993"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=271992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=271992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=271992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}