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  • The Dutch Central Bank said that cryptocurrencies could be adopted in future but with more innovation.
  • The Divisional Director said that purchasing cryptos exposes the consumers to major risks.

A recent publication on fintech reveals that the Dutch Central Bank does not find cryptocurrencies to be ‘real money.’ This also in line with the bank’s Divisional Director, Petra Hielkema comments during an interview on August 3.

Cointelegraph reports that Petra said, “that cryptocurrencies could be considered as money and the blockchain tech could be implemented into the Dutch payment system.” In the meantime, there exists ‘possibilities for in the future, with more innovation.” Petra continued:

‘If something wants to be treated as money, you have to be able to spend, save and calculate with it <...> So we do not consider it [cryptocurrency]to be money as such.’

The Divisional Director went ahead to say that purchase of digital assets exposes consumers to high risks. The Netherlands Authority for the Financial Markets (AFM) recently published the risks that come with virtual currencies.