Finance Minister: Cryptocurrency in Curaçao feasible and necessary

MANILA, WILLEMSTAD - The allowance of cryptocurrency in Curaçao is not only feasible but also necessary. This was stated by Finance Minister Javier Silvania on Tuesday during the SiGMA Asia, an online gaming conference in Manila. 

Virtual money, such as cryptocurrencies, is increasingly used worldwide. "Ignoring them is essentially not an option," said the minister. 

Silvania discussed the importance of regulation in the gaming industry. "It's important to emphasize that overarching rules concerning anti-money laundering practices and player protection remain paramount. We believe that cryptocurrency should be treated as another payment option for players, despite the technical differences with other payment options." 

Silvania underscored the importance of good legislation for a fair and stable market. He said that well-thought-out regulations ensure that businesses act responsibly and the vulnerable are protected. However, he also warned against over-regulation, as it could be counterproductive. It is crucial to find a balance between high standards and not stifling businesses or encouraging unreliable behavior. 

He further emphasized that regulations must keep pace with technological advancements, especially in the realm of digital currencies and assets. He said it is essential to integrate these innovations into our legislative frameworks.