Crypto should be banned in the same way that governments ban drugs, Johan Van Overtveldt, a member of the European Parliament and the former Minister of Finance of Belgium, said in a tweet.
His controversial sentiments quickly sparked a heated response on Twitter, including that from Cardano founder Charles Hoskinson.
Van Overtveldt’s remarks come in the wake of the recent failures of three U.S. banks – Silicon Valley Bank, Signature Bank, and Silvergate Bank – calling digital assets “speculative poison.”
Crypto Has ‘No Economic, Social Value?’
As the European Parliament gears up for a crucial vote on revolutionary digital asset licensing regulations for the European Union, Van Overtveldt, who serves as the economic representative for a coalition of 64 EU legislators, expressed his views on the matter.
Van Overtveldt tweeted:
“If a government bans drugs, it should also ban crypto.”
He also reduced such assets to having “no economic or social value.”
Nog een les te trekken uit de huidige bankcommotie. Leg een strikt verbod op cryptocurrencies op. Speculatief gif en geen enkele economische- of sociale toegevoegde waarde. Als een overheid drugs verbiedt, moet ze ook crypto’s verbieden.
— Johan Van Overtveldt (@jvanovertveldt) March 17, 2023
The EU is still in the process of implementing a comprehensive regulatory framework for its digital currency industry. This legislative package, known as Markets in Crypto Assets (MiCA), was approved by EU institutions and member states in the summer of last year.
Its aim is to establish a set of guidelines for cryptocurrency service providers operating within the 27 member countries of the bloc.
Charles Hoskinson, Car
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Author: Christian Encila
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