Democrat representative Brad Sherman stated in an interview that while he is on the lookout for a ban on crypto, it will not happen anytime soon.
The statement made by the Democratic member attracted attention due to its anti-crypto nature.
No Crypto Ban In The US Yet
Brad Sherman, who is known as a crypto opponent in Congress, said in an interview with the Los Angeles Times that the crypto ban in the USA will not happen, at least not soon.
While Sherman says that the US did not ban crypto earlier than it considered insignificant when it was still in its infancy, he stated that he could not be banned now because there was too much money, power and lobbying behind him.
In an interview with the Los Angeles Times, Sherman said:
“I don’t think there will be a ban any time soon. Money for lobbying and campaign contributions would work or people wouldn’t be doing it anyway, I think that’s why we still haven’t banned crypto. We didn’t ban it at first because we didn’t realize it was important, and we didn’t ban it now because there’s a lot of money and power behind it.”
Like many crypto opponents, Sherman worries about small investor scams. Beyond that, Sherman thinks crypto poses a more systemic threat, enabling criminals and human rights violators, and even undermining the dominance of the US dollar.
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