| On 7 years ago

Dutch National Bank Warning Dutch Banks About Bitcoins

By Daniel Allermand

The Dutch National Bank has issued a warning to the banks of the country, warning them about the dangers of getting involved in Bitcoin and Bitcoin-related companies and businesses. This means that they have taken a different approach than most other national banks, who warns the citizens and not the banks.

The national bank worries about the integrity of the banks in the country, should they decide to go into Bitcoin related companies, with cases of money laundering and high volatility being the biggest concerns overall. Also the anonymous part of the Bitcoin is not well seen by the national bank, as it leaves room for lots of fraud cases.

“In 2014, DNB will investigate whether banks and payment institutions are actively involved with new payment products such as virtual currencies and it will assess the degree to which these institutions control/manage their integrity risks. The control should include effective measures with respect to client acceptance and the monitoring of new innovative suppliers.” The statement read.

With the statement, more problems may occur for Bitcoin ventures, as the Netherlands has been seen as one of the safest places to operate their businesses due to their open culture. 

Daniel Allermand

Daniel Allermand is a freelance writer, with more than 4 years of experience in the industry as an operator, affiliate and poker player. Daniel has decided it was time to try and bring more coverage about the industry to the general public by writing articles about everything from poker to casino.