A European politician has asked the government to not allow cryptocurrencies. Johan Van Overtveldt, who was a minister in Belgium, thinks these digital coins don’t have any helpful benefits for society or economy.
Should Cryptocurrencies be Banned? A Belgian Politician’s Argument!
Johan Van Overtveldt, who is a Member of the European Parliament, thinks that governments should not allow cryptocurrencies like Bitcoin. This idea comes at a time when some banks have experienced problems, including two American banks which were friendly to crypto.
A politician tweeted this message on Friday: “We should stop cryptocurrencies because they don’t have any real benefits and are just like drugs. Just like the government bans drugs, it should also ban cryptos!” He was speaking about a recent incident in banking which is teaching us a valuable lesson.
Van Overtveldt is a Belgian politician and journalist. He was part of the New Flemish Alliance (N-VA) party, and he used to be the Finance Minister between 2014-2018 in the Prime Minister Charles Michel’s government. In 2019, he was elected as a member of European Parliament where he is currently leading the Committee on Budgets and working for the European Conservatives and Reformists group in the Committee on Economic and Monetary Affairs.
ECR is a political group inside the European Union which agrees with fewer rules and a lower tax load. They also believe that having a smaller government will help people have more freedom and be more successful.
Recently, three American banks had to close down due to some issues. Two of them were somehow linked to the cryptocurrency world. As a result, this also caused an effect on Credit Suisse, which is one of the biggest banking companies in Europe.
The European Union (EU) is thinking of introducing new rules called Markets in Crypto Assets (MiCA) to regulate and manage the use of cryptocurrencies. Member countries of the EU agreed to this proposal last summer. Do you think Johan Van Overtveldt has reasons to suggest banning crypto? Let us know in the comments below!