The financial regulatory body of the Netherlands intends to maintain tough attitude towards the Dutch digital assets sector despite looser European rules. The head of the agency overseeing the industry doesn’t think crypto is good news and highlights its flaws in an article.

Head of Dutch Financial Authority Says Cryptos Are Difficult to Fathom, Vulnerable to Fraud

Most countries in the West are “tightening the reins” on crypto but a total ban is “difficult to imagine”, the Chair of the Dutch Authority for the Financial Markets (AFM), Laura van Geest, noted in a column devoted to cryptocurrencies in the business daily Het Financieele Dagblad.

However, despite the tightening in the final phase of the negotiations over EU’s Markets in Crypto Assets (MiCA) legislation, the upcoming regulations remain less strict for cryptocurrencies than those for existing financial products, the executive remarked and stated:We do not think cryptos are good news. They are difficult to fathom, vulnerable to deception, fraud and manipulation.