RATE Group | Crypto May ‘Displace or Interfere With Dollar’
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Crypto May ‘Displace or Interfere With Dollar’

03 Nov Crypto May ‘Displace or Interfere With Dollar’

Posted at 15:54h in Cryptocurrency News by

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The United States congressman who said the country should ban cryptocurrency returned to publicly slating the phenomenon this week.

Sherman: Crypto could “achieve its objectives”

During the latest hearing over Facebook’s Libra digital currency on Oct. 23, Brad Sherman used his chance to speak to deliver fresh criticism of cryptocurrencies such as Bitcoin (BTC) and their alleged use cases. 

Sherman, who was already well known as an opponent of any money that challenges the U.S. dollar’s role as a global reserve currency, built on his previous claims from May when quizzing Facebook CEO Mark Zuckerberg.

“I’m not here to be anti-Facebook; I was anti-cryptocurrency back when you were anti-cryptocurrency,” he told Zuckerberg.

Continuing, Sherman nonetheless appeared to give unlikely weight to the idea that a disruptive financial instrument can succeed in taking power away from the dollar.

“Cryptocurrency either doesn’t work, in which case investors lose a lot of money, or…

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