Crypto: Could bitcoin (BTC) only be used for tax evasion?

If there’s one thing we can be sure of, it’s that bitcoin (BTC) has no shortage of detractors. A US congressman recently slammed the flagship cryptocurrency. He stated that the digital asset does not possess “no societal value” and is only useful for tax evasion. Discover the identity of this member as well as the actions he takes against bitcoin (BTC).

US Congressman Absolutely Against Bitcoin (BTC)!

Once again, US Congressman from California Brad Sherman showed his hostility towards bitcoin (BTC). Indeed, during a recent interview, Sherman said that cryptocurrency lacks intrinsic value. According to him, far from having a societal value, bitcoin (BTC) facilitates crimes such as tax evasion. This is the only reason why the asset would have some advantage over the dollar. The legislator added that bitcoin (BTC) cannot become a currency of the future.

Brad Sherman explained: “Suppose it becomes a currency. In this case, it will only be because it can outperform the dollar for some fairly large markets, notably that of tax evasion, and that is why it has no societal value. We want people to invest in assets that will build the American economy.»

It should be noted that Sherman had lobbies for bitcoin ban (BTC). Then he acknowledged that it is virtually impossible to ban this asset currently. However, he believes that the government has the possibility of regaining more or less control of the situation. It is enough for that that it puts in place regulations which will make bitcoin lose part of its interest.

Brad Sherman, who compared bitcoin (BTC) to the Ponzi scheme, continues to criticize cryptocurrency. A few weeks earlier, he explained:We didn’t ban it at first because we didn’t realize it was important, and we don’t ban it now because there’s too much money and power behind it.»

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential!

Similar Posts