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Cryptocurrency Ban Urged By European Parliament Member Amid Ba | Crypto Calendar News

Cryptocurrency Ban Urged By European Parliament Member Amid Banking Turmoil

Former
Belgian Finance Minister and European Parliament member Johan Van Overtveldt has called for a ban on cryptocurrency, stating that the digital asset industry provides “no economic or social value.”. Van Overtveldt made the comments on Twitter, amidst growing concerns about the banking sector, as Silicon Valley Bank, Signature Bank, and Credit Suisse face difficulties.

The contagion from the recent issues at Silvergate, Silicon Valley Bank, and Signature Bank may have influenced Van Overtveldt’s stance. As board member Barney Frank commented, the closure of Signature Bank sent a “strong anti-crypto message” from regulators. Despite Van Overtveldt’s comments, the crypto industry continues to evolve and grow, with an increasing number of institutions and individuals investing in cryptocurrencies. As the industry matures, regulations will likely continue to evolve to balance innovation with the need to protect investors and the broader financial system.

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