US Congressman wants to completely ban cryptocurrency

[slavaan]

This is really insane! Some US congressman (Brad Sherman) wishes to ban crypto entirely because it may successfully compete with the dollar. These kinds of undemocratic ideas are typical for third-world countries!

https://all-stocks.net/congressman-brad-sherman-attempt-to-garner-support-of-complete-crypto-ban-in-the-us/

It's important to say that this politician doesn't really represent any side of the political aisle, but the fact that he even believes it's possible is absolutely mind-boggling.
 

[wry]

Well at least it's not the usual go to that it's a ponzi that will ruin anyone who buys some.  If it's fear that it will compete with the USD, then he should be afraid, because the US Federal Reserve tries to make the USD go down 2% a year.  Bitcoin is deflationary over the long term.

There was also a nice rebuttal by Ron Paul, though he is no longer in office: https://www.coindesk.com/ron-paul-anti-crypto-congressman-is-just-another-thug-in-washington

If you'd like to see this dipshit on twitter, here is his call:  

 

[Dragunov]

Baning cryptos wouldnt be a good idea for investitors.There is investitors all around the world

[ivaylo2000]

This congressman does not have that much money to do that. The crypto currencies have invested so much resources and will never allow any old man to ban it

[bmg]

It cracks me up reading stories like this.  I mean look how much money the US government has made from cryptocurrency already and some want to ban it.  Hahaha what idiots.

[Kate]

Well it is not a big or new thing because many and by i mean many a lot of people try to ban crypto but it is simply just not possible because there will be players or people who find a loophole to use it anyhow. 

[Eben]

Banning cryptocurrencies won't fix all those problems like ndermining the value of the dollar, criminal activities such as financing terrorism, money laundering, drug-dealing, and tax evasion

[nitendo]

 

I see the flexibility of crypto coins that the dollar cannot do as decentralization and transactions with clear verification

[rajamishra]

hello friends its a bad news for us hope they think if crypto if crypto over ride all currency they have power less to ruled,its my thinking and corruption stopped. then how the grow in black marketing.  

[Shaniqua]

ewwwww oh no...  hope this does not happen... they are already  making us pay for taxes on it.. what more.. a ban.?!!?

[ktfor57]

The  decision is not weighed reasonably as the value of dollar dependence due to cryptocurrencies is far less than crude oil, regular markets, import-exports. Moreover at this point of time cryptocurrencies are too much involved in financial transactions worldwide. If there are people who wan't to ban there are others who will oppose ban

[williamshennie9]

I would really hope that this doesn't happen! I feel like they are threatened by the rise in popularity of crypto, and that is why they want to ban it. People need to open their minds to new technologies that are being developed in my opinion.

[polor12]

the only reason why he brought it up is because there was someone paid him to bring it up.. everyone congressman have people that paying him or her to bring up issues that will eventually go against their business... i mean is been awhile since btc was more valuable then the US dollar.. well more then most currency that currently in the market.. that is why is not in the world trade market as of yet.. then it  would be  big problem for all currency in every country.

[Etude]

I hope this guy will never succeed in his terrible endeavor even in the least. What a unprogressive and selfish point of view from a Congressman.