US Congressman Says Bitcoin Has “No Social Value

During an interview with CNBC on september 10

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

has once again criticized bitcoin.

Sherman stating that the flagship cryptocurrency bitcoin has no social value

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

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

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

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

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

There's  too Much Power and Money Behind Cryptocurrencies.

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

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

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

There is a comprehensive bill already before the US Congress by

Wyoming Senator Cynthia Loomis on crypto regulations.