Deterrence and regulation are the opposite of chaos.

Laws and regulations contribute to controlling financial markets and making them more mature to be ready to attract investment institutions.

The Netherlands plans to impose severe penalties on fraud involving banking apps and cryptocurrency.

New legislation proposed by the country’s Ministry of Justice and Security aims to align penalties for fraud using modern payment methods with those for offenses involving traditional payments such as credit cards.

The penalty for fraud using modern payment methods and crypto has been set with a maximum penalty of six years in prison, while the penalty at the moment is from one to four years for the same frauds, according to the website.NL TimesThe news last Wednesday.

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Regardless of cryptocurrency and payments apps, the report states that bill-sharing apps like Tikkie as subject to current legislation, which is currently being worked on by Justice Minister Ferdinand Graberhus, will rely on legislation and the EU’s anti-money laundering directive, according to another report. About the siteNOS“.

Graberhus reportedly said that modern payment fraud is common and increasingly on the rise and can target large numbers of people.

The minister said he hopes that the tougher penalties will act as a deterrent to those who intend to defraud cryptocurrencies.

came in Source The new sentencing system will also apply to offenses such as falsifying payment data, possessing or selling false data, credit card fraud and phishing.

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