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Anti-Crypto U.S. Congressman Explains Why Crypto Ban Isn't Coming 'Soon'

source-logo  cryptonews.net 05 September 2022 15:00, UTC
Anna Martynova

In a recent interview, Brad SHERMAN, who chairs the House Investor Protection Subcommittee, shared his views on the crypto industry. The congressman called cryptocurrencies a threat to US national security, as they undermine the dominance of the US dollar and “free hands” for criminals. Sherman also mentioned the Tornado Cash mixer, which was placed on the US Treasury Department's sanctions list in early August.

Sherman is also concerned about the large number of crypto scammers. He noted that regulators are powerless if gullible investors themselves are willing to spend their money recklessly. In his opinion, it is too late to ban cryptocurrencies, because there is too much money and power behind crypto assets.

Sherman explained that cryptocurrencies are increasingly being used to fund political campaigns. New Hampshire senator candidate Bruce FENTON recently endorsed Bitcoin. He believes that the US financial system is not collapsing because of Bitcoin, but because of the actions of the US Federal Reserve System (Fed). Therefore, the legislator is not sure that someday Congress will outlaw crypto assets.

Image: Los Angeles Times