Laura van Geest, chairwoman of the Netherlands Authority for the Financial Markets (AFM), said the Netherlands will take a hard line in enforcing new EU crypto rules, even if some providers move elsewhere. Cryptocurrencies are not good news. They are elusive and vulnerable to deception, fraud and manipulation. The value is mainly based on speculation and often has no underlying value. In the Netherlands, the connection between the cryptocurrency world and the traditional financial sector is still limited.
According to an AFM survey, although the number of cryptocurrency owners is estimated to be less than 2 million, most have less than 1,000 euros in speculative funds, and few have borrowed money. They also said they knew it was risky and they could afford to lose money. In addition, a small number of cryptocurrency owners took risks that exceeded their tolerance.
She also said that the EU’s Markets in Crypto-Assets (MiCA) regulation can only partially address its risks. #bitcoindifficulty #antiscam #BNB #GameFi
