Dutch regulator says crypto not yet suitable as means of payment or investment
Paul-Willem van Gerwen from the AFM believes the retail investors should forbear the crypto derivatives trade . A Dutch regulator stated that the crypto derivatives market should be restricted to wholesale trade. The reasons are not unfamiliar — lack of transparency, market manipulation and “other forms of criminal activity.”On May 12, the head of Capital Markets and Transparency Supervision at the Dutch Authority for Financial Markets (AFM), Paul-Willem van Gerwen, shared his opinion on the crypto derivatives trade at the Amsterdam Propriety Traders Managers Meeting. Van Gerwen....
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Malaysia’s deputy finance minister says that cryptocurrencies, such as bitcoin and ethereum, are not suitable as a means of payment or a store of value. While digital assets are not recognized as legal tender in Malaysia, the finance ministry official said that they are an asset class that can be invested in. Deputy Finance Minister […]
Dutch users need to provide the recipient's full name, the purpose of transfer and full residential address to move digital assets off the platform. In a new blog post published Thursday, Coinbase says that starting Monday, all of its customers in the Netherlands will need to complete new Know Your Customer, or KYC, requirements when transferring digital assets to wallet addresses that are not based on the exchange. This includes providing the recipient's full name, the purpose of the transfer and the recipient's complete residential address. Transfers between Coinbase accounts are not....
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....
If you are making a purchase using bitcoin in the Netherlands, you may soon be exempt from VAT. Dutch Bitcoin news website Coincourant.nl reported that Jacob Kamminga, the Dutch Minister of Finance. Speaking at the Free University of Amsterdam, or Vrije Universiteit Amsterdam during a debate, he indicated that the government may exempt bitcoin from VAT. While this is still not the official position of the Dutch government, Finance Minister Kamminga's view should be seen to be a harbinger of good news for the Dutch Bitcoin community. Under current Dutch law if you pay by bitcoin, that sale....
The Financial Supervisory Authority of Norway (Finanstilsynet) has cautioned investors about investing in cryptocurrencies as the price of bitcoin plunged Tuesday. “There is a strong need for a legal framework and investor protection if cryptocurrency is to be able to become a suitable form of investment for consumers,” the regulator’s consumer coordinator wrote. Norway’s Financial Regulator Warns of Crypto Risks Norway’s financial regulator, Finanstilsynet, posted a notice on its website Tuesday warning about the risks of investing in bitcoin and other....