Johan Van Overtveldt has spoken his mind regarding the crypto space on Friday. The European lawmaker, who is also a Belgian ex-finance minister, stressed the necessity of a ban on crypto due to the ongoing banking crisis.

In his tweet, Overtveldt stated that cryptocurrencies are speculative poison with no economic or social added value. 

He shared:

“Another lesson to be learned from the current banking commotion. Enforce a strict ban on cryptocurrencies.” 

Van Overtveldt went further to add that “If a government bans drugs, it should also ban crypto.”.

The Belgian ex-finance minister is suggesting the ban on crypto because of the negative effects of crypto-friendly banks that have bitten the dust. Among such banking institutions are the Silvergate Bank and Silicon Valley Bank. Global markets, including the European market, are suffering repercussions from the collapse of these banks. 

Consequently, notable players in the crypto industry are helping the ecosystem bounce back from the banking crisis.

Johan Van Overtveldt is Belgian ex-finance minister.
Johan Van Overtveldt

Who is Johan Van Overtveldt?

Johan Van Overtveldt is a Belgian economist and politician. He was born on June 24, 1955, in Antwerp, Belgium. 

He has a degree in economics from the University of Antwerp and a Ph.D. in economics from the University of Leuven. 

Van Overtveldt has been a professor of economics at the University of Brussels and the University of Hasselt. He has also been the editor-in-chief of Trends, a Belgian business magazine.

In addition to his academic and journalistic work, Van Overtveldt has been involved in politics. He was a member of the European Parliament from 2014 to 2019, representing the New Flemish Alliance Party. He also served as the Belgian Minister of Finance from 2014 to 2018, under the government led by Charles Michel.

Van Overtveldt is known for his conservative and free-market views on economic policy. He has written several books on economics and public policy, including The End of the Euro: The Uneasy Future of the European Union and A Giant Reborn: Why the US Will Dominate the 21st Century.