Dutch Regulator Says Bitcoin is Technology, Not Money
Bitcoin is not money, the deputy director of the Dutch Payments Association has declared. Comparing the digital currency to tulip bulbs, which famously rocketed in price during the 'Tulip Mania' bubble of the early 1600s, Gijs Boudewijn dismissed suggestions that bitcoin could be currency: "Bitcoin is not a claim and therefore not money ... If you and I agree to pay each other in tulip bulbs then we have established a private currency and the same applies to bitcoin." The comments, made in a wide-ranging interview with Dutch bitcoin news site deBitcoin.org, come as European regulators....
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The Dutch government is trying to make it easier to launch a criminal investigation against persons who use bitcoin to launder money from illegal activities, according to Financieele Dagblad, a Dutch newspaper. Dutch investigators have discovered criminals are shielding activities using “bitcoin mixers.” A bitcoin mixer is a grab bag with bitcoins of several owners. The bitcoins paid out from the bitcoin mixer cannot be traced back to the original owner. Bitcoin And Money Laundering. The FIOD, the investigative arm of the Dutch tax authority, wishes to have the bitcoin mixers recognized as....
The Dutch central bank has fined cryptocurrency exchange Binance 3.325 million euros for offering crypto services in the Netherlands without the legally required registration. Binance has appealed against the fine and has now submitted an application to register with the central bank. Binance Fined by Dutch Regulator The Dutch central bank, De Nederlandsche Bank (DNB), revealed Monday that it has fined Binance Holdings Ltd. for offering crypto services without registration as required by law. The administrative fine of 3.325 million euros ($3.4 million) was imposed on the cryptocurrency....
The Dutch National Bitcoin Congress was held on June 24 and attended by bankers who appear to be enthusiastic about the blockchain. However, despite the name, the event largely ignored the existence of bitcoin and its trustless, peer to peer transaction network. If any of the speakers at the Dutch National Bitcoin Congress (NBC) summed up the day's general atmosphere, it's British digital transaction consultant David Birch, who said: "The future of money isn't Bitcoin [...] and the future of Bitcoin isn't money." In a sold-out room packed with suits, the Dutch financial sector gathered to....
Prosecutors from the Netherlands have seized 2,532 bitcoins worth $33 million after a couple was convicted of money laundering by the Rotterdam District Court. The man and his wife were sentenced to two years for illegal money transmission and the court claims the couple’s bitcoin stash was used on the deep web. Dutch officials recently arrested and charged a man and his wife for illegal money transmission and money laundering. According to the Dutch Public Prosecution Service from the Rotterdam District Court, the two suspects laundered close to $19 million using bitcoin during the....
Regulators have not always keen on blockchain technology, but lately they have started to seeing its potential benefits. A Hong Kong regulator has indicated how the blockchain can help financial institutions to overcome money laundering. The essential traits of blockchain technology make it a robust solution to fight money laundering. Not only is a....