A vocal anti-crypto lawmaker within the US is reportedly acknowledging {that a} ban on digital belongings isn’t on the desk in Congress proper now.
The Los Angeles Instances stories that crypto skeptic Congressman Brad Sherman desires to outlaw digital belongings, however the Home Democrat from California doesn’t assume it’ll occur anytime quickly.
“I don’t assume we’re going to get [to a ban] anytime quickly. Cash for lobbying and cash for marketing campaign contributions works, or individuals wouldn’t do it; that’s why we haven’t banned crypto. We didn’t ban it firstly as a result of we didn’t notice it was necessary, and we didn’t ban it now as a result of there’s an excessive amount of cash and energy behind it.”
Sherman has a protracted historical past of taking up crypto, together with calling for a invoice in 2019 to make it unlawful for People to purchase and promote crypto belongings.
The lawmaker worries about digital asset investor safety, in addition to crypto’s potential to weaken the greenback. Sherman additionally acknowledges it’s arduous to cease individuals from spending cash the way in which they wish to spend it.
“It’s arduous to be operating the subcommittee devoted to investor safety in a rustic during which individuals wish to wager on [meme coins]. Cryptocurrency is a meme you spend money on, within the hopes that you could promote it to any person else earlier than it tanks. That’s the great factor a couple of Ponzi scheme.”
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