[ad_1]
US Congressman Brad Sherman, who is a California Democrat and an outspoken critic of cryptocurrencies, has expressed doubts about the future of digital assets in the US.
What happened: His remarks came during a joint hearing Wednesday of two U.S. House of Representatives committees seeking to streamline digital asset legislation.
“The Crypto brothers literally make money by making money, and they’ve made over a trillion dollars,” Sherman said. “They will accuse the US government of making money out of thin air. Maybe we do, but we are the US government.”
During the hearing, Sherman also referred to cryptocurrencies as a hidden monetary system that diverts capital investment from productive industries. He also pointed out that their stated goal is to circumvent sanctions and tax laws.
See more: The Art of the Future: Lisa Rays TheUpsideSpace Brings NFTs to Center Stage
Why it matters: Sherman, who is chairman of the House Financial Services Subcommittee on Capital Markets and Investor Protection, has been a vocal critic of cryptocurrencies and has launched attacks on the industry before. In November 2022, following the collapse of FTX, Sherman once again targeted the crypto industry and accused billionaire crypto-bros of trying to delay meaningful federal government legislation.
In 2018, he said that all Bitcoin BTC/USD does is allow “a few dozen men in my neighborhood to sit in their pajamas on their couch all day and tell their wives that they will become millionaires”.
Price Action: At the time of writing, BTC was trading at $27,429.57, down 0.82% in the last 24 hours, according to Benzinga Pro.
Read more: Bitcoin, Ethereum, Dogecoin tumble despite inflation
|
Sources 2/ https://www.benzinga.com/markets/cryptocurrency/23/05/32332700/us-rep-brad-sherman-takes-shot-at-crypto-bros-argues-government-can-make-money-out-of-thin The mention sources can contact us to remove/changing this article |
[ad_2]