US Congressman Says Bitcoin Has “No Social Value”

During an interview with CNBC on september 10

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Brad Sherman, a member of the U.S Congress from California,

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has once again criticized bitcoin.

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Sherman stating that the flagship cryptocurrency bitcoin has no social value

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because of its lack of intrinsic value and the potential to facilitate crime.

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Sherman rejected bitcoin's potential to be the currency of the future

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It has only one advantage over the dollar because it can aid in crimes such as tax evasion.

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He also suggested that there is no contribution of bitcoin to help improve the economy.

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Overall, Sherman is part of US lawmakers who are speakers in favor of banning bitcoin

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There's too Much Power and Money Behind Cryptocurrencies.

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Because of this ability, Sherman believes that the government cannot currently ban bitcoin.

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Even in the past, Sherman has compared bitcoin to a Ponzi scheme.

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Overall all the statement of sherman will not effect to bitcoin because of

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There is a comprehensive bill already before the US Congress by

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Wyoming Senator Cynthia Loomis on crypto regulations.

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