Speaking at a crypto hearing before the Financial Services Committee, US Congressman Brad Sherman said the US does make money by printing it. Subsequently, Sherman said, “That benefit goes to the American people when we provide more services or when we tax them less.”
Subsequently, Sherman set his sights on the digital asset industry. During the same hearing, he stated, “The intent of the billionaire bros in crypto is to appropriate for themselves that literal money-making machine.” Additionally, Sherman said he didn’t believe Bitcoin creator, “Saratoshi Nagamoto” was innovative. Referring to Bitcoin creator Satoshi Nakamoto.
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US Congressman Says US Prints Money In Crypto Criticism
The overarching perception of the digital asset industry in the United States is currently rather confounding. Regulation has long been the hope for the market, but inconsistent approaches have been reflected in the standards put forth. Moreover, priorities on enforcement have only driven that lack of clarity further.
Now, in a hearing about the digital asset industry before the Financial Services Committee, those conversations continued. Yet, they led to some rather interesting back and forth. Specifically, US Congressman Brad Sherman said that the US does make money by printing it. Susbeuqnelty stated that process is the aim of all crypto developers. Whom he referred to as “crypto bros.”
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Following his statements on printing money, Sherman incorrectly referenced the creator of Bitcoin. Indeed, Sherman spoke of “Saratoshi Nagamoto” as the creator of the prominent cryptocurrency. Mistaking the actual creator, Satoshi Nakamoto.
Additionally, Sherman stated his belief that Nakamoto was not innovative. Thus, continuing the money-making standards of the US to the eventual goal of digital assets. Therefore, bringing forth what amounts to a rather confusing rhetorical diatribe on digital assets amid the hearing.
Congressman Brad Sherman is a representative for California’s 32nd Congressional District. Moreover, he assumed office in January of 1997 and has represented a district of California for 13 consecutive terms since his initial appointment.