This is not the first person this week to propose to ban cryptocurrencies in Congress. However, without the enormous international efforts of the authorities, the possibility of such legislation being approved is minimal. So don't worry too much.
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Has the cryptocurrency changed from the ridiculous object of the authorities to the object of fear?
Coin Center, a cryptocurrency training organization, has posted a video on Twitter that shows a member of Congress who has criticized digital assets once again proposed a ban on digital assets. This member is Republican Brad Sherman. In this video, Brad Sherman is very frank about the crypto assets:
"I will introduce a bill with my colleagues to ban Americans from buying cryptocurrencies. The reason we want to kill cryptocurrencies in the cradle is partly because the large amount of international power we have is from the dollar. International financial and trading standards.
Encrypted supporters claim to deprive us of our power, and we will be in a situation where sanctions against Iran will not be able to perform their original functions, and our voice will become irrelevant.
The purpose of cryptocurrency (relative to the advantage of sovereign currency) is to deprive the rule of law of American law.
This is not the first time Brad Sherman has slammed cryptocurrencies. But the threat of cryptocurrency as a power structure is still the first time. So it is still worth noting. Previously, Brad Sherman had condemned money laundering and crime from cryptocurrency.
But many people in the encryption community don't buy it.
“Brad Sherman is concerned that users of cryptocurrencies will swindle and launder money. But the company behind his campaign donation is being fined $13.3 million for facilitating illegal gambling. — The Crypto Dog(@TheCryptoDog) July 18 , 2018"
As early as last week, Nobel laureate Joseph Stiglitz also proposed to ban cryptocurrency. However, Joseph Stiglitz mainly attacked the anonymity of cryptocurrency, but he also believed that it is a good idea to issue a cryptocurrency by the central bank to curb money laundering.
However, the fact is that many people do not realize that the ban on cryptocurrency is a futile luxury. Even if the bad news in the currency circle is full every day, it is only that the project is eliminated or the price of the currency is falling. Bitcoin will not die. Conversely, cryptocurrencies may be more secretive and less manageable. It should also be clear that many countries in the world are very keen to reduce the influence of the US dollar and their dependence on the US dollar. These countries will certainly not reject the arrival of miners.
Remarks: Bitcoin86 manuscript article, please indicate the source. The article is an independent view of the author and does not represent the standing position.