Bitcoin could regain its popularity, and its price.
However, we are also looking at countries regulating it heavily due to various reasons – scams, money laundering, terrorism funding, sometimes simple fear of innovations.
The latest regulations were enacted in the Netherlands out of all places.
In an attempt to stem money laundering De Nederlandsche Bank plans to regulate all companies dealing with crypto coins, by requiring them to get a special license. The measure is aimed to deter money laundering and possible funding of terrorist activities.
Under the proposed legislation all companies that want to get a license will have to report all unusual cryto transactions to the authorities and to know exactly who their clients are.
The Dutch Central Bank says the new policy is necessary, because the crypto market is highly decentralized and with a high degree of anonymity, which makes it a perfect tool for money laundering.
Also the measure is in line with a new European directive – the fifth Anti-Money Laundering Directive, which is the first piece of European law that specifically mentions the crypto currencies.