The United States is the largest market for crypto currency and if anyone jumps to call for a total ban on the sector, he or she should be ready for backlash. This is what happened when Congressman, Brad Sherman, has sought a blanket ban on anything that is associated with digital currency. This included trading or mining or its use cases. The remarks have attracted sharp reaction from those supporting the virtual currency.
Hash Tag Reach
Sherman’s call for a blanket ban has attracted wider social conversation thus boosting the ‘CryptoCongress hash tag’. Keyhole, a data analytics site of Twitter, indicated that the hash tag could reach more than one million accounts within a few days of the call. Apart from this, there were over 2.7 million impressions during the same period suggesting how traders or supporters have reacted to the call, coindesk reported. He is one of the lawmakers among over 400 representatives and was offering his opinion before a government established committee.
Interestingly, Sherman is known for offering opinions against the digital currencies if the past is any indication. In any case, observers in social media reacted quickly to accuse him of bias towards the emerging sector. This was attributed to his biggest donor of the previous election is running a credit card payment firm. One of the tweets indicated that the Congressman does not have any clue on the new asset class. Sherman’s opinion that crypto is only for criminals invited sharp criticism.
Comparing With War Spent
In another tweet, Marius said that he was not ready to accept that cryptos are bad after pointing out that the government has spent more than $7.6 trillion for wars in the last one decade. He also wondered what would be his position if the American voters kick him out in the next term. The tweet says, “You realize $60 billion $US per year are laundered.”
This is not the only issues and there is other type of tweets too like printing of dollars endlessly. This is in response to Sherman’s comment about mining of digital coins that require some process to create virtual assets. A tweet wanted the Congressman to stop printing of more dollars rather than seeking the Americans to be prohibited from acquiring or mining of crypto currencies and focus on key issues.
One of the harshest tweets from The Crypto Dog said, “@BradSherman was so concerned about $crypto users using #cryptocurrency for deceptive and illegal financial activity, yet his top campaign donation came from a company that had to forfeit $13.3 million to the US Government for facilitating illegal gambling.”
However, there will be questions whether these uproars could have its impact on the California Democrat. If the hash tag of “#UnseatSherman 2018” is any indication, a number of people started saying that they will not elect him in the next election. Though there are other Congressmen who are supporting the digital currency sector, the anger that he generated among the Americans is significant. Also, the crypto community appeared to be united in their voice.