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 Occasions stories that crypto skeptic Congressman Brad Sherman needs to outlaw digital belongings, however the Home Democrat from California doesn’t suppose it’ll occur anytime quickly.
“I don’t suppose we’re going to get [to a ban] anytime quickly. Cash for lobbying and cash for marketing campaign contributions works, or folks wouldn’t do it; that’s why we haven’t banned crypto. We didn’t ban it originally as a result of we didn’t understand it was vital, and we didn’t ban it now as a result of there’s an excessive amount of cash and energy behind it.”
Sherman has an extended 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 laborious to cease folks from spending cash the best way they need to spend it.
“It’s laborious to be working the subcommittee devoted to investor safety in a rustic during which folks need to wager on [meme coins]. Cryptocurrency is a meme you spend money on, within the hopes which you can promote it to someone else earlier than it tanks. That’s the good factor a few Ponzi scheme.”
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