First law amendment in reaction to peer to peer lending?

The Netherlands will possibly be the first country where a law will be changed in reaction to peer to peer lending. Peer to peer lending in all countries is regulated by national laws but so far these did apply to all financial institutions and did not have specific provisions for peer to peer lending.

Dutch treasury secretary Bos says he sees the need to amend existing laws. In the Netherlands there have been parliament debates and regulation hassles triggered by the launch of p2p lending service in February 2007.

(Sources: 1, 2)

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