US deputy: Demand Bitcoin ban – credit card industry as a financier

The US Congress recently held a highly anticipated hearing on crypto currencies. The aim of the hearing, entitled “The Future of Money: Digital Currency”, was to define the current status of crypto currencies in the US economic system.

The highlight of the hearing was, of course, Brad Sherman’s stubbornly negative stance on Bitcoin. During his four-minute speech, Sherman went so far as to ban buying and mining. He believes that crypto currencies play the role of mediator when it comes to drug trafficking, terrorism and tax evasion and draws parallels between crypto currencies and the gambling industry.

However, as it turns out, the biggest donor to the Sherman campaign is Allied Wallet, a major credit card processing company. Sherman, one of the most prominent anti-crypto politicians in Congress, also takes money from the Credit Union National Assn.

U.S. Congressman, who proposed Bitcoin ban, has credit card industry as largest financier

Bitcoin Trader is mainstream

During the hearings, elected officials from onlinebetrug recently posted Bitcoin Trader two House subcommittees focused on issues such as the potential impact of crypto currencies on traditional money, their mainstream adoption, various legal challenges and the introduction of CBDC (Central Bank Digital Currency).

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During his opening statement, Republican representative Andy Barr noted that there are hundreds of crypto currencies with a total market capitalization of more than $250 billion. However, it is unclear whether crypto currencies are another bubble or even the future of money.

US Congressmen have a rather mixed opinion when it comes to this emerging financial technology. Congressman Bill Foster believes that if the central bank issues its own crypto currency, it could end the dominance of the dollar around the globe.

Rather mixed opinion on Bitcoin Code

Representative Prasad has a fairly positive attitude towards CBDC, Bitcoin Code while Pollock had some tough words for those who support a central bank crypto currency, which he called “the worst idea ever”.

A conservative Republican Mike Conaway showed some appreciation for Bitcoin (BTC). Unlike anonymous coins, Bitcoin has only a relative degree of anonymity and keeps all transaction information public.

As long as the stupid criminals use Bitcoin, we will be great,” – mentioned Conaway in his closing remarks.

A step in the right direction
Despite some strong criticism, many experts are optimistic about the hearing in Congress mentioned above. For example, eToro’s director Guy Hirsch sees a positive sign for crypto currencies in this discussion, as it is important to find a sensible solution.

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