Congressman Brad Sherman Trashes Crypto During Recent Hearing

Dec 14,2022
Congressman Brad Sherman Trashes Crypto During Recent Hearing

At the latest congressional hearing, the FTX Trading Center went bankrupt and its founder collapsedSam Bankman FriedUS Congressman Brad Sherman (D-CA) compared cryptocurrency to "the garden of snakes". Sherman said: "I'm afraid we will see Sam Bankman Fried as a snake in the cryptocurrency paradise. The truth is that cryptocurrency is a garden of snakes."

The Florida Congressman said that Crypto is committed to competing with the American market, becoming the world's reserve currency, and enriching the wealth of "company billionaire brothers"

Sherman said that those evading sanctions, drug traffickers and other criminals find cryptocurrencies more attractive. The due process added that tax evasion is a huge sales market for new asset classes. "But the market is tax evasion. I understand that every time a billionaire evades taxes, some people on the other side will applaud him," he added

Sherman called Bankman Fried the "14372 Prisoner". He fabricated a lie. The disgraced founder of FTX persuaded the SEC not to be subject to encryption restrictions, because she expected the CFTC to implement "baby control"

Sherman is one of the toughest critics of cryptocurrency on Capitol Hill. He has been calling for a clear ban on cryptocurrency for many years. In aRecent interviewThe congressman acknowledged that the United States is unlikely to ban encryption. He explained that the encrypted exhortation has also become too strong, which makes it impossible to explicitly prohibit it at this stage