Dutch Finance Minister calls for regulation of ICO

Dutch Finance Minister calls for regulation of ICO


Wopke Hoekstra, who served as Minister of Finance of the Netherlands, sent to Parliament a letter in which he advocated international regulation of ICO and cryptocurrency.

As part of creating new consumer protection measures, Hoekstra plans to discuss with credit card companies the possibility of installing more reliable protection for customers using them to purchase digital currencies.

Hoekstra: Netherlands is not adapted for cryptocurrencies and ICO

In addition, he said, before the end of 2019, all local currency exchange and other exchange sites are obliged to pass state registration and verification for compliance with the requirements of KYC.

Also, the minister suggested creating new laws to protect the ICO participants. According to him, now it is necessary to find out whether it is possible to provide them with the same level of security as traditional investors.

He stressed that the current regulatory structure is not adequately adapted to the characteristics of the cryptocurrency market, reports Coindesk.

Earlier, the largest financial company in the Netherlands, ING issued a statement in which it confirmed the service of the Bitfinex exchange.

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