Read

The Dutch finance ministry has denied requests for additional funding to monitor the crypto sector amid new European regulations. 
The Dutch finance ministry has rejected multiple requests for additional funding from the local financial regulator to enhance its oversight of the crypto sector. According to local news <a href="https://www.dutchnews.nl/2024/07/finance-ministry-says-no-to-extra-funding-for-crypto-regulation?data=234crypto9823news347" target="_blank" rel="">reports</a>, the ministry has also imposed limits on the contributions that the Authority for the Financial Markets can seek from the financial sector itself. 
 You might also like: <a href="https://crypto.news/whats-missing-from-micas-comprehensive-crypto-manifesto-opinion/"> Tether CEO warns MiCA stablecoin rules could pose ‘systemic risks’ to EU banks </a> 
The AFM, which regulates financial markets in the Netherlands, argues that increased funding is needed to manage new responsibilities stemming from the European cryptocurrency legislation known as <a href="https://crypto.news/tag/mica/" target="_blank" rel="noreferrer noopener">MiCa</a>. The ministry, however, considers additional funding as “politically unachievable” and favors a minimal regulatory approach, a stance the AFM believes is inadequate for effective supervision, as reports indicate. 
The finance ministry is reportedly less concerned about crypto-related fraud, underscoring a divergence in priorities between the two regulatory bodies. While the Dutch financial regulator has pledged to focus on areas that pose the greatest risks to consumers and investors, it hasn’t detailed its specific future plans for overseeing the crypto market. 
The Netherlands has been cautious in its approach to cryptocurrency regulation. The country has <a href="https://crypto.news/dutch-central-bank-says-kucoin-operates-illegally/" target="_blank" data-type="post" data-id="14102110" rel="noreferrer noopener">several times</a> <a href="https://crypto.news/binance-to-exit-netherlands-after-failing-to-obtain-registration/" target="_blank" rel="noreferrer noopener">fined</a> large crypto exchanges for failing to comply with local registration requirements and anti-money laundering rules. 
 Read more: <a href="https://crypto.news/crypto-com-disappointed-over-3m-fine-by-dutch-central-bank-plans-to-appeal/"> Crypto.com ‘disappointed’ over $3m fine by Dutch central bank, plans to appeal </a>

Dutch finance ministry rejects AFM’s funding boost for crypto oversight: report

crypto.news

Ďalšie články zverejnené 29. 7. 2024

Ethereum Spot ETFs Debut in U.S. Exchanges, Supported by Major Issuers

List of Top Four Altcoins Set For ‘Full-Blown Recovery’

Weekly Article Recap: 7/15-7/19

Solana beats Ethereum in weekly total fees for the first time — Research

Elon Musk Shares Deepfake Kamala Harris Video, Violating X Rules

New Solana Memecoin Trump Fired Biden Will Surge 17,000% Before Exchange Listing, While SHIB and ...

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!