US Congressman Slams Crypto, Says Government May Have Opportunity To Gain Control Over Digital Assets

US Congressman Slams Crypto, Says Government May Have Opportunity To Gain Control Over Digital Assets


A US Congressman who has a reputation for being a vocal critic of crypto says an opportunity may arise where the government could take back power over digital assets.

In a new CNBC interview, Representative Brad Sherman of Southern California says now is not the time to ban crypto but highlights that he sees a scenario where the government could crack down on the nascent asset class.

“Crypto is not a new asset class. Charles Ponzi developed this asset class well over a century ago. I think that if crypto loses some of the money and power that’s behind it that we will have an opportunity to regain that control.”

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Sherman notes that crypto has one distinct advantage over the US dollar as a currency

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