US Congressman calls for bill to outlaw cryptocurrencies

posted 17 days ago
In a Financial Services Committee hearing on Thursday, US Congressman Bradley Sherman (D-CA) called on Congress to propose a bill outlawing cryptocurrencies. For the sake of transparency, it's worth noting that according to the website opensecrets.org, this Congressman's largest campaign donors for 2018 include a conventional bank and a credit card processing company.

"I look for colleagues to join with me in introducing a bill to outlaw cryptocurrency purchases by Americans...in part because an awful lot of our international power comes from the fact the dollar is the standard unit of international finance and transactions… the announced purpose of the supporters of cryptocurrency [is to] to take that power away from us... the purpose of cryptocurrency, the advantage it has over sovereign currency is solely to aid in the disempowerment of the United States...”
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