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  • Brad Sherman, a US Rep is calling upon is colleagues to ban cryptocurrencies.
  • Lawmakers must take pre-emptive action to impede the threat of cryptocurrencies according to Shermen.

United States Congressman Brad Sherman (D-CA) has pressed on his colleagues to outlaw cryptocurrencies. The reason for this is he believes threaten to disempower American foreign policy and diminish the rule of law.

In his comments, Rep. Sherman said that lawmakers need to take pre-emptive action to impede the threat posed by cryptocurrencies.

Sherman said:

An awful lot of our international power stems from the fact that the dollar is the standard unit of international finance and transactions, it is the announced purpose of the supporters of cryptocurrencies to take that power away from us.