The Netherlands Wants Clear Regulatory Guidelines For FinTech and Bitcoin Startups
The Netherlands is often seen as a region where regulators are doing their best to keep up with financial innovation. IN the Bitcoin world, this has lead to a healthy startup ecosystem in the country, with clearly defined taxation rules. But a new report from Holland FinTech touches upon several barriers that are preventing future growth in The Netherlands, which include regulation and collaboration with financial players. Making FinTech Grow In The Netherlands. Even though the report mentions how the FinTech industry is doing quite well in The Netherlands, there is always room for future....
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This small, but mighty country is demonstrating that good things come in small packages, illustrating its potential as one of the top FinTech countries in the world. The Netherlands has a population of around 17 million people; Germany has a population of nearly 81 million; France has a population of over 66 million people; and the U.K. has a population of 64 million. However, while the latter European countries may spring to mind when you think about the ideal locations for startups, the Netherlands is a country that isn’t afraid to keep up with the big players when its needs to.....
Although the draft for these new regulations has yet to be created, the government is hopeful they can shake up the Swiss banking sector. Regulation is always a double-edged blade. On the one hand, guidelines can help legalize new currencies and financial tools. At the same time, these rules can nip innovation in the bud at a very early stage. Switzerland wants to ease up on fintech regulation, which is excellent news for Bitcoin activity in the country. New rules have been proposed by the Swiss government to encourage fintech startups in the country. By easing these regulatory guidelines,....
Malaysia is one of the most recent countries to look at its current regulatory guidelines and come up with changes to take part of the FinTech revolution. Keeping in mind how Bitcoin is a part of FinTech as well, these changes will have a rippling effect on cryptocurrency adoption. FinTech Regulation is a Double-edged Sword. Various countries around the....
Hong Kong, which many consider as the Asian center of financial and technological development, is struggling to see consistent growth in its Fintech and Bitcoin markets. Other Asian countries such as China, Japan, South Korea and Singapore have outcompeted Hong Kong by creating a practical and efficient ecosystem for startups and financial service providers to operate in. Clear policies. China and South Korea in specific have laid out sound regulations and policies within their Fintech and Bitcoin markets, allowing startups and mature corporations to follow a clear regulatory framework to....
Coinbase has announced that the company plans to introduce a number of changes for customers in the Netherlands in order to comply with the 1977 Sanctions Act, a law that recently applied know-your-customer (KYC) guidelines to non-custodial wallets. If the person living in the Netherlands wants to send crypto to a third-party wallet via Coinbase, they must identify the wallet owner’s name, the purpose of transfer, and the full residential address of the recipient. On June 27, Coinbase Says KYC Info Will Be Required in the Netherlands for Outgoing Crypto Transfers Dutch Coinbase....