U.S. Congressman Brad Sherman’s call to ban cryptocurrencies has been labeled as ‘FUD’ by anti-virus software guru and crypto influencer John McAfee. The cryptocurrency maverick who is also vying for the U.S. presidency equated the congressman to a vampire.
In a tweet, McAfee posted an image of the Democratic House Rep for California’s 30th congressional district posing as Count Dracula with the vampire fangs out, perhaps a metaphor for his attempt to suck the life out of crypto.
— John McAfee (@officialmcafee) May 9, 2019
Congressman Calls for Blanket Crypto Ban
This came in the wake of Sherman urging House colleagues to back legislation outlawing the purchase of cryptocurrencies by Americans. The Congressman made the remarks during a House Financial Services Committee meeting.
According to Sherman, the major danger posed by cryptocurrencies is destroying the dollar’s status as the world’s reserve currency. This, per Sherman, would ‘disempower foreign policy’ of the U.S. and render any sanctions imposed on rogue nations ‘irrelevant’. Additionally, it would make the enforcement of tax collection or the rule of law harder or impossible:
The purposes of cryptocurrency, the advantage it has over sovereign currency is solely to aid in the disempowerment of the United States and the rule of law.
While he did not throw insults on Thursday, Sherman last year labeled Bitcoin a ‘crock’.
Is Sherman Protecting His Donors or Speaking out of Principle?
According to the Center for Responsive Politics, traditional financial institutions dominated the Congressman’s top-donor list during the 2017-2018 period. Specifically, 80 percent of his top-five donors were in the legacy financial sector.
These donors included Swiss multinational investment bank UBS AG which gave him $11,350. A Los…