Lately, Dutch official Pieter Hasekamp issued an article “The Netherlands must ban Bitcoin", where he said that crypto crumple is unavoidable and urged the authorities to forbid crypto sooner.
Related: Tanzania is also ready to legalize Bitcoin
Answering this, Finance Minister Wopke Hoekstra said he doesn't agree with an entire crypto ban. Instead, the country must regulate the industry, he said.Wopke Hoekstra's response was issued by the Netherlands' local news agency NU.nl. Finance Minister admitted the risks connected with the industry saying he understands Pieter Hasekamp's concerns. Wopke Hoekstra finds it's essential to define proper rules for virtual currencies to prevent cases of money laundering. He also noted that his observations show that supervision is more efficient than a full ban in the Netherlands and that the crypto market must be managed at the European level.
The minister mentioned that in 2017 he released a warning concerning crypto mentioning investors must acknowledge risks and that the responsibility is on them.
Presently, many countries are considering strengthening crypto regulations and reviewing their approach to the industry. A few days ago, on June 10 El Salvador became the first country in the world to legalize Bitcoin.