Paul Koster Calls for Immediate Ban on Bitcoin

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Paul Koster Calls for Immediate Ban on Bitcoin

ForexMinute.com – Netherlands Stockholder Association’s Director Paul Koster recently requested the central bankers to immediately ban the cryptocurrency Bitcoin.

According to a report published on Dutch news service BNR, Koster deliberately chose Bitcoin’s worst trading phase to throw tantrums over it. “These volatile Bitcoin price fluctuations prove that this market is not supervised and/or regulated by any government or institution,” he said. “As a result, it is impossible for banks, consumers, investors and retailers to estimate the potential risks of getting involved with Bitcoin.”

Koster also questioned the central bank’s capability by criticizing their weak stance against the cryptocurrency sector. “I don’t know why they even allow Bitcoin,” he commented while referring central bankers. “It is a wild market with endless potential risks.”

Many Bitcoin followers questioned Koster’s timing of issuing such a provocative statement, when Bitcoin is going through rough phase in terms of value. Some also commented over the “director” to ignore greater benefits cryptocurrency technology brings to finance market.

“Ban is just the paternalistic attitude that feeds the bitcoin movement,” said one of the commentators. “If you find bitcoin better, then you use them, with all the risks that entails. In addition, it is a global phenomenon, where you with regional prohibitions learn a very little.”

The Dutch Central Bank has already issued a warning to local banks and payment institution to be aware of cryptocurrency risks.