The Central Bank of the Netherlands does not consider cryptocurrencies money

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Cryptocurrency is not money, and consumers are taking a big risk buying them, said the head of the banking Department of the Central Bank of the Netherlands Peter Hylkema (Petra Hielkema). However, De Nederlandsche Bank has no plans to ban them, she added.

“To consider anything as money, you should be able to pay, save and evaluate. However, things for cryptocurrency buy is not often, they are too volatile for savings and their value expressed in real money. Thus, we believe that as such they not money,” said Peter Hylkema.

However, she noted that the Central Bank sees the blockchain technology as extremely interesting. According to her, the regulator is experimenting with technology in the past three years and has developed four DLT prototype.

However, the experiments showed that the developed blockchain solutions can not yet be included in the payment system of the Netherlands, she said. But, in her opinion, it is not excluded that in the future it will happen.

Recall that according to the survey, conducted by Ipsos commissioned by large Dutch financial conglomerate ING Bank, the owners of any amount of cryptocurrency is only 7% of the population is one of the lowest in Europe.

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