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Congressman calls for a bill to outlaw cryptocurrency in the US

Congressman calls for a bill to outlaw cryptocurrency in the US

Brad Sherman, a California Democrat, called for members of Congress to join him in introducing a bill to outlaw cryptocurrency purchases by Americans. During the May 9th Committee on Financial Services, Sherman claimed that cryptocurrency is superseding the US dollar in the financial system when it comes to conducting illicit activity.

KCooper
KCooper
Rocky LeBlanc
Rocky LeBlanc 1 year

I can see a valid argument to be made against any crypto that allows asic mining on it's blockchain. The centralization of supply is the greatest threat to blockchain based technology as seen in the recent Princeton study. No action leaves world economies that attempt to adopt crypto at risk of economic ransom to places like China that build the asic miners (Bitmain) and control over 74% of all mining farms in the world.

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