In the fight against money the Dutch Cabinet wants to put on lingerie, the statutory provisions. In a letter to the Parliament, the financial and the Minister of justice Hoekstra and grabber house at the weekend presented a corresponding action plan. This provides, among other things, stricter requirements for crypto-exchanges and providers of Initial Coin Offerings.
By David Barkhausen
At the 2. July 2019BTC$10.466,00 -1.33%part Facebook Twitter LinkedIn xing mail
The Netherlands has a Problem: Only in this year, the EU criticized the charges as a tax haven, the applicable member of the low Group, and feeble action against money laundering. Almost 16 million Euro black money to find in the UK every year making your way to the control over the financial cycle. About half of drug-related crime and fraud generated Euro is to come from abroad. Long as on the part of the city of Amsterdam seemed to lack the political Initiative, but now the Dutch Cabinet is responding.
shoulder-to-shoulder with the Minister of justice Ferdinand grabber house wants the Minister of Finance Wopke Hoekstra the rampant announcements of money laundering in the future, the fight. In a letter to the lower house of the Dutch Parliament, presented last Sunday, the 30. In June, a joint action plan.
in addition to a ban on 500 Euro for cash payments above a value of 3,000 euros, the two Christian democratic Ministers call for the strict regulation and Monitoring of crypto-currencies Certificates. In the Plan it is, they are associated with a high degree of anonymity and made it so that Criminals can easily, illegally acquired assets in the financial system is back feeding. In addition, the global reach of crypto would be currencies, especially with regard to the financing of global terrorism is relevant.
Ministers want to rules tighten up
Now want to attract the Minister of the legal adjusting screws: All of the transactions and exchange processes of crypto-currencies into Fiat money, or between different Kryptos to show, according to the action plan, in the future, under the national Anti-money laundering law, that from the most recent FATF-Standards of the world’s leading body for combating money laundering and the Anti-money laundering directives of the EU. Wallet and exchange operator, as well as companies that offer Initial Coin Offerings (ICOs), then you would have customer and transaction register data and check. You are encouraged to report suspicious money Transfers to the competent financial supervision.
by 2020, to bring the Minister a corresponding Change in the sometimes applicable regulations on the way. Currently, there is a corresponding bill has been proposed by the Dutch Council of state. The Advisory body to the government must each bill before it can be presented to the Parliament for a vote.
crime is not paid for. Neither in the Netherlands nor in Europe or in the world. Through a joint effort, we want the fight against money laundering on a new Level. The Netherlands would have to be among the international leaders when it comes to combat money laundering,
Minister of justice grabber house is determined. In the Wake of the recent assault, he calls for together with Hoekstra, the European Commission also for the expansion of Europe-wide regulations. That these claims of the Minister to fulfil in the near future, but this is currently unlikely. Because the hour of the bitter negotiations on the successor to the still reigning President of the Commission Jean-Claude Juncker to run. A successor is found, the Commission will establish, in the first year in office, first, however, to bring new projects on the way.
crypto-currencies as a financial boost for terrorists?
Finally, the action plan also reaffirms the financial commitment of the Dutch Cabinet. After the government had already provided in the past year, 30 million euros for the fight against Cyber-crime, one wants to use parts of the money now, criminal money flows to detect and to explore the use of crypto-currencies.
Because of their (supposed) anonymity of crypto-currencies has always been associated with money laundering, drug trafficking, fraud and, ultimately, the financing of organised crime and terrorism-in connection. While Bitcoin & co. to be used investigators, according to often as a hidden payment alternative, to certify experts, such as the EDGE Foundation crypto-currencies at the most only a restricted Use in the financing of global terror.
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US securities regulator, the SEC,: IEO-suppliers-sensitive penalties money laundering: the regulation of crypto-currencies is progressing US military adviser: terrorist Use of Bitcoin & co. limited#of anti-money laundering Directive#Due Diligence#money-laundering#crypto-exchanges#Netherlands
