Dutch official calls for complete ban on Bitcoin

Dutch official calls for complete ban on Bitcoin


As El Salvador adopts Bitcoin (BTC) as legal tender, one Dutch official blasted the cryptocurrency, calling for an urgent blanket ban.

Pieter Hasekamp, director of the Dutch Bureau for Economic Analysis under the Ministry of Economic Affairs and Climate Policy, published an essay entitled “The Netherlands must ban bitcoin.”

In line with the essay’s title, Hasekamp lists a wide list of reasons why the Dutch government must enforce an immediate total ban on mining, trading and holding Bitcoin. According to the official, this could cause the price to plummet because Bitcoin “has no intrinsic value and is only valuable because others may accept it.”

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The exec cited a common anti-crypto narrative, arguing that any cryptocurrency is not able to fulfill any of the three functions of money as a unit of account, means of payment and store of value. He also cited other common anti-Bitcoin arguments like security concerns, risks of fraud and scams, and argued that the crypto is useful tool for criminal

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