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Author Topic: [2018-05-31] Dutch government claims: crypto has low risk to financial system  (Read 46 times)
Thadeous
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May 31, 2018, 10:33:49 AM
 #1

Low Capitalization, Institutional Exposure Make Crypto Low Risk, Says Dutch Gov’t Report

A branch of the Dutch government has recently released an economic risk report, claiming that cryptocurrencies present a low risk to financial stability in the country, according to a report published on May 29.

The CPB states in the report that at the current time, cryptocurrencies pose a low risk to the financial system due to the low level of capitalization, as well as the limited involvement of traditional financial institutions and systems. The CPB separately noted the problems associated with crypto’s use in crime financing, fraud, high crypto market volatility, and the energy consumption of crypto mining.

The report predicts that crypto-related risks will increase with more interaction with government financial institutions. The agency also states that cryptocurrencies are not “money substitutes,” claiming that users generally prefer to hold their crypto instead of using it as an everyday payment method.

The report stressed the need for balanced financial regulation. The CPB compared the risks of a lack of financial regulation equally with strict regulations, claiming that overly harsh measures can increase the activity of “shadow banks.”

The CPB has been tasked with providing a financial risk report at the request of the Parliamentary Committee of Inquiry on Financial Assistance every year since 2012. Affirming the low negative impact of crypto on financial stability, the CPB claimed that the most important financial risks are currently low interest rates and the involved risks of reducing the sustainability of debts on a macroeconomic level.

Earlier this year, a Dutch court recognized Bitcoin (BTC) as a “transferable value,” declaring that the major cryptocurrency “shows characteristics of a property right.” In the case, the court ordered the defendant party to pay a debt in Bitcoin. By the court’s reasoning, since the obligation of the defendant was originally made in BTC, the amount should likewise be paid back.

Source: https://cointelegraph.com/news/low-capitalization-institutional-exposure-make-crypto-low-risk-says-dutch-govt-report
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May 31, 2018, 11:07:44 AM
 #2

"Transferable value" looks like a pretty good term to explain cryptocurrencies. Grin
There`s nothing new in such reports,just the good old "crypto is shady" type of propaganda.
The good thing is that the Dutch govenment has a more balanced and fair approach towards cryptocurrencies.

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May 31, 2018, 01:51:24 PM
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"Transferable value" looks like a pretty good term to explain cryptocurrencies. Grin
There`s nothing new in such reports,just the good old "crypto is shady" type of propaganda.
The good thing is that the Dutch govenment has a more balanced and fair approach towards cryptocurrencies.

Yeah, not perfect, but still positive attitude from the government side.
And the more mentions from governments - the more involvement among the society.
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May 31, 2018, 02:05:16 PM
 #4

"Transferable value" looks like a pretty good term to explain cryptocurrencies. Grin
There`s nothing new in such reports,just the good old "crypto is shady" type of propaganda.
The good thing is that the Dutch govenment has a more balanced and fair approach towards cryptocurrencies.

Yeah, not perfect, but still positive attitude from the government side.
And the more mentions from governments - the more involvement among the society.
Really appreciating where some government in the world of a particular country which is on the neutral side when it comes to their own views towards cryptocurrency. They arent on negative nor either on positive and im wondering on how many of them would have the same view? When we do talk about ratio between neutral,positive and negative i do have this view 2:8.


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May 31, 2018, 06:13:58 PM
 #5

Low Capitalization, Institutional Exposure Make Crypto Low Risk, Says Dutch Gov’t Report

A branch of the Dutch government has recently released an economic risk report, claiming that cryptocurrencies present a low risk to financial stability in the country, according to a report published on May 29.

The CPB states in the report that at the current time, cryptocurrencies pose a low risk to the financial system due to the low level of capitalization, as well as the limited involvement of traditional financial institutions and systems. The CPB separately noted the problems associated with crypto’s use in crime financing, fraud, high crypto market volatility, and the energy consumption of crypto mining.

The report predicts that crypto-related risks will increase with more interaction with government financial institutions. The agency also states that cryptocurrencies are not “money substitutes,” claiming that users generally prefer to hold their crypto instead of using it as an everyday payment method.

The report stressed the need for balanced financial regulation. The CPB compared the risks of a lack of financial regulation equally with strict regulations, claiming that overly harsh measures can increase the activity of “shadow banks.”

The CPB has been tasked with providing a financial risk report at the request of the Parliamentary Committee of Inquiry on Financial Assistance every year since 2012. Affirming the low negative impact of crypto on financial stability, the CPB claimed that the most important financial risks are currently low interest rates and the involved risks of reducing the sustainability of debts on a macroeconomic level.

Earlier this year, a Dutch court recognized Bitcoin (BTC) as a “transferable value,” declaring that the major cryptocurrency “shows characteristics of a property right.” In the case, the court ordered the defendant party to pay a debt in Bitcoin. By the court’s reasoning, since the obligation of the defendant was originally made in BTC, the amount should likewise be paid back.

Source: https://cointelegraph.com/news/low-capitalization-institutional-exposure-make-crypto-low-risk-says-dutch-govt-report

I think this opinion was formed because of the underestimation of bitcoin. We look at what they say when the capitalization returns to the January levels. Of course now it is not a threat and you can give your comment, which makes no sense. But what will happen with high capitalization?How to talk about threats. Cool

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May 31, 2018, 06:48:22 PM
 #6

What I liked the most in the report is that they are  in favor of balanced financial regulations in the sense of non-strict ones. I agree that some regulations are inevitable and I'm glad that they understand that overly harsh measures can only worsen the situation.

I've been always thinking that Switzerland and Holland are the countries which others should take for a model regarding management of the country. Their governments really care for the people's needs and people respect them for that which makes the overall atmosphere relaxed and friendly.

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May 31, 2018, 09:23:05 PM
 #7

Cryptocurrencies have a tiny proportion within the reel market. As seen in the chart below, ratio is only percent 0,3. They don't see it as a threat, at least for now. Whenever marketcap reaches the level of trillion dollars the perception can change against Cryptocurrencies.


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