Congress' leading crypto skeptic is a Southern California congressman
WASHINGTON — Rep. Brad Sherman's views on cryptocurrencies set him apart from most of his colleagues in Congress. The California Democrat isn't just wary of crypto: He hates it and views it as a threat to the national security of the United States.
Sherman, who chairs a House subcommittee on investor protection, may be the leading crypto skeptic on Capitol Hill.
A growing movement in Congress wants to bring more regulation to the nearly $2 trillion crypto industry, which is currently overseen by a patchwork of state laws and federal agencies. Sherman, however, doesn't just want to regulate cryptocurrencies, he wants them outlawed.
"I don't think we're going to get. "Money for lobbying and money for campaign contributions works, or people wouldn't do it; and that's why we haven't banned crypto. We didn't ban it at the beginning because we didn't realize it was important, and we didn't ban it now because there's too much money and power behind it."
