>> May 6, 2020
>> Blog Post #68
Another week, another company that folds due to restrictive legislation. This time it’s the Dutch company BitKassa.
last time was end of April only… 🙁
Imagine you run a business and from one day to another you see the need to place this big red banner on your front page.
It must hurt so bad.
Here’s their post about why. 1st paragraph includes this:
« Main reason is we no longer want to commit to the excessive demands of the Dutch Central Bank, and the Dutch Ministry of Finance who does a great job serving the Dutch Central Bank in enforcing unreasonable regulation upon Dutch Bitcoin companies. »
Country legislation that protects government sponsored associations of non-elected officials to the detriment of hardworking, honest people who are trying to build for the future.
Makes me sad.
Building is important. Staying in the shade probably is too. It’s still early in the game. I learned early enough that you did not want to sit at the frontier of bitcoin to FIAT if you did not want to face issues. This is just another example of this. License fees, legal delays or costs and fines are designed to run you out of business and protect the establishment.