The US Congressman proposed to issue a law prohibiting cryptocurrency. They allegedly undermine the power of the United States

The US Congressman proposed to issue a law prohibiting cryptocurrency. They allegedly undermine the power of the United States

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Member of the US Congress Brad Sherman called for a legislative ban on the purchase of cryptocurrencies. He made such a statement during a meeting of the Financial Services Committee. Rep. Sherman called for a bill to ban all cryptocurrencies.

This is why the Coin Center is needed in DC now more than ever. The congressman proposed to develop a regulatory framework that would make illegal the purchase and sale of cryptocurrency by Americans, which, in his opinion, should protect the country as a political and economic center. “A huge part of our international power stems from the fact that the dollar is the standard unit for trading and transactions.

The calculations that go through the Fed are crucial for large oil and other companies, and the goal of supporters of cryptocurrency is to take this power from us, ”said Sherman.

According to the congressman, it doesn’t matter if cryptocurrencies serve to undermine foreign policy, enforce tax collection measures or traditional rule of law, the advantage that digital assets have over sovereign currency comes down solely to depriving the US of influence.

The congressman also mentioned the Islamic organization Hamas, which accepted cryptocurrency as donations. “The advantage of digital currencies over traditional mechanisms is an advantage for those who seek to commit crimes.” Recall Sherman has long been known as a Bitcoin critic.

So, last year he already called for banning the purchase of cryptocurrencies, as well as mining. At the same time, even then Sherman admitted that “the cryptocurrency undermines the strength of the American dollar.” Tweet with Sherman’s statement was published by the non-profit organization promoting and protecting the interests of the bitcoin and blockchain industry of the Coin Center, accompanied by the text: “That’s why the Coin Center is now needed in Washington more than ever.”

Note that the organization has been lobbying for the interests of the cryptocurrency industry since 2014. Other companies are engaged in similar activities. Since the beginning of the year, about 80 various organizations in the United States promoted bills related to fintech solutions, cryptocurrencies, and blockchain technology. A total of about $ 42 million was spent on lobbying in this area.

The presence of such organizations in Congress is growing every year. If at the end of 2017 only a dozen companies from the field of cryptocurrency and blockchain paid for lobbying their interests in Washington, in 2018 their number almost tripled to 33 organizations. Recall that last month a bill was submitted to Congress that would allow exclusion of cryptocurrency from securities legislation.

The US Congressman proposed to issue a law prohibiting cryptocurrency. They allegedly undermine the power of the United States

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