In a recent CNBC interview, U.S. Congressman Brad Sherman openly expressed his hope for the end of cryptocurrencies, a stance that will ruffle the feathers of crypto enthusiasts.
"I hope so, don't think so," was Sherman's succinct response when asked if the ongoing crackdown signaled the end of cryptocurrencies in America.
His caustic comment follows recent regulatory actions taken by the SEC against major cryptocurrency exchanges, Binance and Coinbase.
The Congressman, who is well-known for his anti-crypto stance, took issue with the idea that cryptocurrencies could benefit the economy or consumers, stating that their primary use was to evade the U.S. government and sanctions.
Alex Dovbnya
Despite his harsh criticisms, the Congressman stopped short of calling for complete regulatory extinction, suggesting the market might self-regulate.
Arman Shirinyan
U.Today Editorial Team
Vladislav Sopov
Dan Burgin