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U.S. congressman calls for ban on all cryptocurrencies

A member of the U.S. Congress today called for an outright ban on cryptocurrencies. Democratic representative Brad Sherman warned of the threat Bitcoin and other cryptos pose to the hegemony of the U.S. dollar.
U.S. congressman calls for ban on all cryptocurrencies
According to Sherman, the U.S. dollar has a key role as the world's reserve currency, and is an important way for American power to be asserted globally. He claimed (not inaccurately) that cryptos and their enthusiasts are explicitly seeking to undermine this power.
The world-wide use of the U.S. dollar strengthens the U.S. economy and allows us to sanction rogue nations. Those desperate to weaken the U.S. pray for a crypto-alternative to the U.S. dollar. 3/3
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Sherman warned that "the most significant sanctions we have on Iran, for example, would become irrelevant" if crypto were eventually to usurp USD as the international standard for financial transactions. He called for others to support him in drawing up a bill proposing "to outlaw cryptocurrency purchases by Americans, so that we nip this in the bud".
the video of @BradSherman's call to ban bitcoin is the best advertisement for the digital asset i've seen in quite some time (HT Oskar_Koch on Reddit) https://www.reddit.com/r/Bitcoin/comments/bmow4l/today_in_congress_rep_sherman_called_for_a_bill/ 
Should someone tell him that banning it will most likely make it more valuable and powerful?
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The crypto community reacted to Sherman's suggestion more or less exactly as you would expect. ShapeShift head Erik Voorhees compared the congressman to a villain in a story written by libertarian fanboys' favourite Ayn Rand, while others pointed out that Sherman's speech had in fact inadvertently provided a great argument for Bitcoin and crypto.
It's rare to see a US politician admit to what's been known around the world, but obscure to most in the US. The dollar hegemony that the US enjoys is what gives it much of its power. We're in the "then they fight you" phase. @BradSherman, I'm around if you ever want to talk.
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I think he meant to say “disempowerment of the United States’ government and the empowerment of its citizens”. Thanks for looking out for us Brad, you power hungry ass.
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