Regulation
Reading time: ~2 m
Former Belgian finance minister and current member of the European Parliament Johan van Overtveldt called on the authorities to ban cryptocurrencies.
Another lesson to be learned from the current banking commotion. Enforce a strict ban on cryptocurrencies. Speculative poison and no economic or social added value. If a government bans drugs, it should also ban cryptos.
— Johan Van Overtveldt (@jvanovertveldt) March 17, 2023
“Another lesson to be learned from the current banking turmoil. It is necessary to introduce a strict ban on cryptocurrencies. Speculative poison and no economic or social value. If the government bans drugs, it should also ban cryptocurrencies,” the politician wrote.
Overtveldt made a statement amid the collapse SVB and Signature Bank, the consequences of which extended to Europe, affecting one of the largest local investment banks – Credit Suisse.
On March 15, the organization’s shares lost more than 15% in price, at the moment they declined from ATH reached 98%. This situation forced Credit Suisse to think about a $53 billion loan from the Swiss National Bank.
At last year’s debate, Overtveldt noted the “great potential” of the underlying technology behind cryptocurrencies.
Recall that in March 2023, the European Parliament adopted a bill on data protection, which concerns smart contracts.
Later, the EU authorities approved a decree on a digital identification system.
#Belgian #finance #minister #calls #ban #cryptocurrencies #banking #crisis
