Ban Cryptocurrency: Is US Dollar Under Attack?
The congressman, calling to ban cryptocurrency in the USA, is slating it again this week. He says Crypto is a huge and underestimated danger to the USA stability. It was not the first his speech of that kind since May this year.
Ban cryptocurrency until it is too late, they say
Brad Sherman, well-known by his criticism around the cryptocurrencies has used his chance to express his vision and understanding of the situation around Crypto. He held his speech at the latest hearing over Libra digital currency that took place two days ago.
The congressmen is well known for being strongly against implementing any currency including Crypto that can affect the role of the US dollar in the global economics. He is aware that this new currency may shift the dollar from the position of the reserve currency in the nearest future if being used. He firstly expressed his opinion in May this year while quizzing Mark Zuckerberg. Sherman said that he is not against Fb but against Crypto in general. He is aware that digital currencies can take power and in the end overpower dollar, replacing it as the only reserve currency around the world.
Bitcoin is not preferable for criminals
Sherman also noted that he is neither fan of Libra nor any other cryptocurrency. His comments came at the same time as a huge and unexpected slide on Bitcoin markets did. It was back than when the BTC/USD plunged 8% and reached the record marks.
The congressman also points out that he was sure that fiat is the worst choice for criminals. However, it turned out that the situation is quite the opposite. According to the statistics it is fiat currency that is involved in illegal activity, not publicly-traceable Bitcoin. That was, as Sherman, not completely unexpected, but not pleasant thing to know.