Last night, the senate voted in favor for what the us an anti-cryptowet to be called. Officially it is an amendment of the implementing law with the fourth anti-money laundering directive. Actually, it would be here on the 10th of January and a decision has been taken, this date is due to a variety of reasons, to move on to the 21st of april.
The bill passed in december 2019 at the latest by the Second Chamber will be adopted. The First Room was so agreed.
Contents
Almost unanimously,
All of the parties in the lower house voted in favour of the anti-cryptowet, except for the CASE and the netherlands Tournament. The latter was a vote in it, but it was rejected. This means that vendors of cryptocurrency, including BTC, Straight, and BOOM, soon to be covered by the Act on the prevention of money laundering and the financing of terrorism (Wwft).
The name says it all, cryptocurrency is not on in the uk We all know the reasoning, all of them, and the minister of Hoekstra’s repeated it again. In the proposal, namely:
The anonymity of virtual currency as it makes it possible for them to misuse it for criminal purposes.
Sjors Provoost was doing that last night’s report.
ONLY against the law, even against the Tournament’s motion to?
SP, CU, PvdA advocates for the law, and against the motion
The Dutch political party D66, Fvd,stability and growth pact,50+,etc. (not to be heard, to cyber for it?): for the law, and against the motion
Tournament: by the law
The law was adopted.
Foreign competition was the big winner.
Honey badger don’t care #Bitcoin
— Sjors Provoost (@read) is April 21, 2020
Is this beyond what the directive requires. The directive states that the cryptobedrijven is to place bets against money laundering and the financing of terrorism. The Dutch government also takes it a step further by cryptobedrijven, under the money laundering at the same time. This law is really for financial institutions such as banks are meant to be.
Because of this cryptobedrijven their projected sales to make it known, and the owners are screened.
So what does this mean in practical terms?
The new law applies to two different types of companies. The first is the so-called brokers, or foreign exchange, where you can fiatgeld exchange for the cryptocurrency. The second type of application is to fund walletaanbieders. Fund means, in this case, the walletaanbieder the private keys to the coins themselves are in control.
This means that all of the businesses that are here, are to be registered with the Dutch central Bank, and they will act as a supervisor. DNB will assess applications for registration on the reliability and fitness for purpose.
This would make a total of € 1.7 million, per year to fees, this amount is to be paid by the cryptosector. Assuming that we have 50 companies to register, this is at 34.000 euros for each company. Please note, however, that this amount is not fixed, and it is not entirely clear given by the minister of finance. All of these companies are included in the public register of the Dutch central bank.
Cryptobedrijven need to have a system in which they are unusual transactions. This should be reported to the police and the Financial Intelligence Unit (FIU). That is, of course, is not just about the transaction itself, you can also think of your personal data.
As for the law, once it has been signed by the king, and a date is given, then it is a transitional period of up to six months.
So what does this mean for the computer industry in the Netherlands.
Each of the cryptobedrijf must, therefore, be expected to 34.000 euro to pay. That is, the back is more complicated than for the other. This may mean that companies may choose to stop or to leave their homes. In addition, this seems to be the kiss of death for new ideas and start ups.
Mark Baker, owner of BTC, but to the point:
The measures taken to ensure that small businesses, it is more difficult to get, and that innovation is one of the cryptohoek to slow down. That is a very, very bad. However, this is now our new reality, and we are confident that this is it for Breaking News, and the GAME is good. We have made all of the preparations are already done and ready to go.
As well as any future initiatives. It would not be a regulatory license to be given on the basis of a prototype. There is no minimum amount, no trial period for new firms, no.
— Sjors Provoost (@read) is April 21, 2020
From the highest quality Bitcoinbedrijven, there are critical questions to be asked, and there is a lot of information to cover. However, it is not made to be a witness of the questions and issues raised by the present policy makers.