Dutch Court Recognizes Bitcoin as ‘Transferable Value’ but Hampered by Trump’s Executive Order

[Harsh Bhutani]

Dutch Court Recognizes Bitcoin as ‘Transferable Value’ but Hampered by Trump’s Executive Order

The Dutch court stated explicitly that given that as a cryptocurrency, it is able to transfer value in a peer-to-peer manner and thus property rights apply to Bitcoin. However, what's dampening the sentiment is the executive order from trump which bars transactions that are made inside the US involving “any digital currency, digital coin or digital token” issued after January 9 by the Venezuelan government.

 

[The CC Forums]

I see the Japanese move and Binance move as mostly long-term positives though.

The industry is in that awkward teenage stage. Maturing rapidly while prices bounce all over the place. Good long-term projects should weather this period well and still be viable as the market matures.

 

[CryptoTC]

So market consolidation is what you’re talking about. Whether you are right remains to be seen though. Slowly spiraling lower and lower. We need some sort of spark to get this reversed. Rather than small good news, we need one major brokerage or financial institution to report that they’re buying. Maybe this happens after mid April tax US deadlines pass. Maybe not.

 

[CryptoTC]

Also I don’t think the block of Venezuelan coin will have much effect on the overall crypto markets. I doubt there was much US demand for it anyway.

 

[Harsh Bhutani]

Rightly said. Like stated in the article the Executive order has nothing to do with Bitcoin or any other cryptocurrencies. However, the fall could be attributed to the concerns that any kind of cryptocurrency might fall in Trump’s sight next.