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19 June 2021
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Holland thinks of a Bitcoin ban

Holland wants to ban Bitcoin and cryptocurrencies. This is what emerges from the words of Pieter Hasekamp , head of the central planning office of the CPB , the Dutch office that carries out studies and analyzes on behalf of the government.

Hasekamp wrote in an essay :

“For both investors and governments, the last to act is the loser. The Netherlands must now ban bitcoin ”.

According to the director of the research department, the problem is that cryptocurrencies are unstable and are often used for illicit purposes . For this reason, their production, trading and possession should be prohibited.

Also, Hasekamp adds, people think Bitcoin may soon replace traditional currencies, but that won’t happen.

Finally, he adds, if the Netherlands goes as far as banning Bitcoin, its value will plummet.

Netherlands vs El Salvador

What is happening or rather, what could happen in the Netherlands, is in stark contrast to what is happening in El Salvador , where instead bitcoin has just been legitimized as legal tender. In short, for a country that remains closed in the ancestral vision according to which Bitcoin is evil, another, small one, on the other side of the world, will instead use it by inserting it as a strategy to revive its economy.

However, both choices have consequences and concerns. On the one hand, in fact, El Salvador legitimizes Bitcoin by making it a national currency, and consequently a foreign currency. This foreign currency could become illegal in the Netherlands. A nice short circuit.

Holland and other countries that have used a Bitcoin ban

In reality, Holland is not the first country to try to eliminate Bitcoin and fail. China has tried, with continuous bans which, however, do not prevent cryptocurrency trading. Perhaps because the possession of crypto is in fact not prohibited.

India also tried with a ban that was later declared unconstitutional. 

Either way, Bitcoin’s decentralized nature makes it impossible to control. Therefore a ban may not stop BTC’s ownership and transactions. 

The price of BTC did not allow itself to be overwhelmed by the news from the Netherlands. Currently Bitcoin is in a slight loss (-1%) over the 24 hours, with a price of about 37,400 dollars.

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