U.S. Congressman Brad Sherman, known for his anti-crypto stance, claimed that the cryptocurrency industry will self-destruct.
Cryptocurrency exchanges by Brad Sherman, US Securities and Exchange Commission (SEC) Binance And to Coinbase after the lawsuits against making devastating wishes about the industry found.
addressed to himDo you think recent events mark the end of the crypto industry in the US?” to the question SEC’s recent sanctions Replying by pointing, the congressman said, “I hope so but I don’t think so” he said.
Sherman, 68regarding the high values of some cryptocurrencies your doubts by stating that Bitcoin Hamster Coin (HAMSTR) or Cone Tribe Cointo be more valuable than there is no logical reason stressed. Opposing the idea that cryptocurrencies could benefit the economy or consumers, the congressman said that their primary use avoiding the law and sanctions suggested that:
It doesn’t matter which way cryptocurrencies go. The important point here is, are cryptocurrencies for the benefit of the USA or not? The answer is clearly no. Cryptocurrency supporters want to circumvent US sanctions. So what is the meaning of the word crypto money “Hidden Money”. It’s money used by those who try to circumvent sanctions and those who want to evade taxes.
Claiming that the cryptocurrency market attracts charlatans interested in such assets, Sherman said at the end of the day. that the cryptocurrency industry will self-destruct expressed.
With this, in daily practical life Implying that the use of cryptocurrencies is unlikely, Sherman drew attention to the examples he gave:
They were $3 trillion at one point and didn’t make it any easier or cheaper to buy a sandwich from Subway. When you go to Subway, you can use a debit or credit card. If you have cryptocurrency, you need to cash it out, then transfer it to your debit card, and then buy a sandwich. Cryptocurrencies are neither a real payment system nor function like money.
Although these statements of Sherman seem consistent in themselves, the congressman or Bitcoin Lightning NetworkHe does not know or prefers to ignore it. Contrary to Sherman’s claim, El SalvadorActively in all stores in payment with bitcoin can be done.