- Congressman Brad Sherman Claims Cryptocurrencies Are Bad for America
- He doesn’t associate real value with cryptocurrencies.
- Bitcoin is still up well over 50% since the beginning of the year.
Congressman Brad Sherman said cryptocurrencies are not a payment system and are bad for the United States.
Sherman Opposes Cryptocurrency Ecosystem
He opposes that the entire ecosystem encourages tax evasion and other fraudulent activities.
CNBC’s “The ExchangeSherman said today, recalling that crypto means “hidden money.”
Advocates say they are trying to create a federally agnostic financial system that can be used by sanctions evaders.
The US Stock Exchange recently filed a complaint against the following conduct: binance Coinbase Global Inc has also fallen nearly 20% since then. Rep. Sherman ‘hopes’ the crackdown will put an end to US cryptocurrencies
Rep. Sherman Doesn’t Associate Real Value with Cryptocurrencies
Despite the recent decline, Bitcoin is a significant outperformer, up well over 50% since the beginning of the year at the time of writing.
Still, Rep. Sherman continues to associate no real value with cryptocurrencies.In his interview he continued Sam Bankman Freed – The founders of the collapsed FTX exchange aren’t the only scammers regulators should go after.
Cryptocurrencies have fascinated so many charlatans. It will fade away because there is no logical reason why Bitcoin is worth more than Hamstercoin. It is an attempt to create a currency and make trillions of dollars.
It should be noted here that the SEC has so far failed to prove that Ripple (XRP) is a security in a lawsuit that has been going on since 2020.
