Netherland citizens protests against Euro CBDC

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Crypto Regulation
Netherland citizens protests against Euro CBDC

Earlier, Thursday 24th of November, Dutch Citizens took to the streets to protest against the launch of Euro CBDC in the country. The protesters were seen with different placards and posters stating their intent against the virtual currency.

Full Report

According to reports from impeccable sources, Dutch citizens were out on the street protesting. The protest was held to kick against using the Netherlands as a test for the European-backed digital currency.  

The protest was a peaceful one, crypto players and entities came with different placards and post bills. Some of the placards read, 

“Defund the State, Buy BTC”, and “CBDC, a digital jail” among others.

The Netherlands’ protest against Euro CBDC, happened two weeks after Queen Maxima declared her support for the digital currency. She made the declaration known, during a European Conference titled “A legislative framework that allows Euro for citizens”.

The Netherlands Queen lauded the European Central Bank for designing and preparing to launch its virtual currency. She revealed that the Euro CBDC will foster unity and also reduce transactions and remittance fees among the European countries.

“The Euro CBDC will help to reduce transaction and remittance fees amidst European countries. The Central Bank-backed digital currency needs to be reformed and regulated to mitigate associated risks.”

Before now, Queen Maxima has been an ardent supporter and crypto lover, and enthusiast. She had on several occasions shown her interest in digital currencies; advocating digital assets and also hosting related conferences and summits.

“CBDC, more programmable than BTC” – Dutch Bank

The Netherlands seems to have had a long-term relationship/history with Central Bank Digital Currency. In 2020, the Dutch Central Bank signed an agreement with the European Bank to use the Netherlands as a testing ground for CBDC. According to the European chairman,  Euro CBDC may not be used for commercial purposes. 

The development and launching of CBDC are accompanied by a lot of tests, evaluations, hitches, and bugs. However, this process seems not to go down well with the Dutch citizens, as they had earlier taken to the stress to protest.

Earlier, a Dutch citizen made a cryptic post via his Twitter handle kicking against the CBDC project. His tweet reads “Beautiful how the politicians in the Netherlands keep calling their CBDC project, “new innovation”.

“My thumbs have flattened due to tweeting about those innovations for the last 7 years but yeah whatever namely #Bitcoin. #CBDC #NoCBDC”.

Although the adoption of the CBDC as an alternative for monetary transactions has been on the rise. However, the Netherlands seems uninterested, asking for the full use of Bitcoin and other prominent cryptocurrencies.

Ifeanyi Egede

Ifeanyi Egede is an experienced and versatile writer and researcher. He has keen interest in blockchain technology, cryptocurrencies, NFTs, Web3, metaverse, fintech and emerging technologies. He has tons of published works both online and in the print media. He has close to a decade of writing experience. When he is not writing, he spends time with his lovely wife and kids.

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