In the last period there is a lot of talk about regulate cryptocurrencies and the companies that offer services that are related to them. One of the European countries that has made the decision to take a step towards more specific regulation is the Netherlands. Indeed, the Central Bank of the Netherlands has revealed that starting from the 10 January of the 2020, will proceed to regulate all those companies that offer services that are strictly or partially related to cryptocurrencies.
As recently published by Reuters magazine, the De Nederlandsche Bank wanted to emphasize how important it is that the operating companies in the field of cryptocurrencies are regulated and consequently work in this sector only with a specific license. In a nutshell, companies that offer services such as exchange between traditional coins and cryptocurrencies, wallet suppliers for digital coins, etc. ... will first have to register with De Nederlandsche Bank and apply for an authorization to operate in the Netherlands.
Netherlands: developments in the field of cryptocurrencies
Starting in July of this year, ministers of the Dutch government asked the government to adopt a regulatory system for cryptocurrencies and for some new payment systems with traditional currencies, as they are very fearful of issues such as money laundering.
At the moment, the Netherlands does not recognize digital currencies as a legal tender currency, although in March the Dutch court ruled Bitcoin as an asset with a transferable value. Precisely as established by the court: Bitcoin exists through a unique and digitally encrypted series from one wallet to another. Bitcoins are an autonomous representation of value that can be directly transferred to someone else. For this reason, Bitcoin represents a transferable value and therefore it is declared valid as a means of payment between private parties.
