During the Financial Services Committee hearing which was held on Thursday, 9th May 2019, Bradley Sherman, the United States Congressman who is serving as a Democratic member of the United States House of Representatives since 1997 has made remarks for proposing a bill in regards to banning bitcoin and other cryptocurrencies in the United States of America.
During the hearing, Bradley Sherman urged his colleagues to pass a bill that would ban the purchase of bitcoin and other cryptocurrencies in the United States of America. He asked his colleagues to join him to introduce a bill to outlaw the purchase of bitcoin and other cryptocurrencies by the American citizens. He mentioned that America gets a lot of international power from the fact that the US dollar is the standard unit of international finance and transactions throughout the world.
Sherman mentioned that clearing through the New York Fed is critical for major oil and other transactions and it is the announced purpose of the supporters of cryptocurrencies to take that power away from the government of the United States and put them in a position where the most significant sanctions that they have on their ramp, for example, would become irrelevant. So whether it is to disempower their foreign policy, their tax collection enforcement or their traditional law enforcement, the purposes of cryptocurrency or the advantage it has over sovereign currency is solely to aid in the disempowerment of the United States in the rule of law.
Bradley Sherman also mentioned about the Hamas terrorist organization saying that the official website of the terrorist organization provides detailed instructions on how people can send them donations in cryptocurrency.
Bradley said that if you look at the advertising for the boosterism of cryptocurrency, it reads like something between libertarianism and anarchism. He mentioned that the cryptocurrencies don’t let anyone know what you are doing (especially the government).
He also regarded cryptocurrencies as ‘The Plastic Gun of Currency“, which according to him means that it can be used for a legitimate purpose but the fact is that the advantage it has over traditional mechanisms is singularly a benefit for those who wish to commit crimes. After this statement, he asked his colleagues to join him in introducing a bill to outlaw cryptocurrency purchases by Americans so that they can “Nip this in the bud“.
Bradley Sherman, an elected government representative has been a hater of bitcoin and cryptocurrencies for a long time. What do you feel about his statements and interest? Tell us in the comments section below.