The Netherlands has advanced towards cryptocurrency with a very understanding and open attitude. Netherlands cryptocurrency regulation will follow very soon, but it should persist favorable for everyone concerned. The Dutch are very accepting of cryptocurrencies, and it seems that their government shapes to make the country a very welcoming place for them.
Significant of the Netherlands Crypto regulation that they would put in place will be for the benefit of investors and will not act as a barrier to them. These new rules mostly have to do with preventing money laundering and protecting retail investors from untrustworthy businesses.
They have discussed the regulation of cryptocurrencies at the G20 summit with Germany and France, and their rulings will likely take a similar stance to their other neighbors in Europe. According to the estimation, over 500,000 Dutch households now possess cryptocurrency, and that number is likely to grow.
Their finance minister is particularly interested in strengthening protections for consumers who buy crypto using credit cards, as this has been an issue for many recently. The presence of crypto is strong here, and they have a good number of Bitcoin ATMs and vendors, which will accept crypto for both goods and services.
Is Bitcoin legal in the Netherlands?
The legality of Bitcoin in the Netherlands is excellent. In 2017 it was ruled that cryptocurrencies do not fall under the Act of financial supervision there, and this means that this nation scores very high on our charts. They offer superior freedom to Bitcoin users when compared to other countries, and this gives them an excellent score when everything gets tallied up on our tables.
They do, however, have a rather small number of exchanges, and once the government begins cracking down on the ones that exist, that list could get even lower. It’s currently unknown exactly what type of laws will get imposed by the Netherlands Crypto Regulation on these services and whether or not crypto-only exchanges will require banking licenses. If they do, then many smaller outfits may be forced to close, and investors will need to be careful keeping money on them. When a government issues a notice, these closures can happen quickly and without notice, and it can be tough to reclaim your money.