Does This Conregressman Who Wants To Ban Crypto Have a Conflict Of Interest?

sutihar (46)in #mgsc • 6 years ago

Congressman Brad Sherman voiced his opinion that crypto should be made
illegal, which brought about widespread criticism from the Twitter crypto
community. One Twitter watchdog has publicized the Congressman's campaign
finance into, which seems to point that Sherman is motivated by something
other than his ideology.

This Wednesday, the Financial Service Committee of the US House of
representatives had a subcommittee meeting on the future of digital
currency. Congressman Brad Sherman stated that cryptocurrencies are a
'crock' and should be outright banned-predictably crypto twitter had a
few choice for him.

Along with individual criticism of his plea to ban crypto and his
rational thereof, allegations have been levied link Sherman's opinion
on rypto to his financial links to an online payment platform.

Sherman originally said that cryptocurrency should be banned because it
facilitates crime, tax evasion, and because of its signficant
environmental costs.

He compared investing in cryptocurrency unfavorably to casino gambling.
Interestly, his biggest campaign contributer has offshore gambling
payments, according to AmbCrypto.

The company, Allied Wallet is an online payment solutions platform and
e-commerce website. They were forced to forfeit over $13 million to the
FBI following insinuation that they were processing extra legal
betting profits. For Sherman's 2017 election, the firm donated $12,500,
the Congressman's single largest donor.

Allied Wallet's business modal is directly theatened by cryptocurrency,
and their support of Sherman makes his criticism of the technology
suspicious.

Twitter user TheCryptoDog originally brought the campaign finance
records to light, and has been laying out the evidence that Sherman's
ideology around crypto is motivated by his financial backers. According
to TheCryptoDog, Sherman, via direct message, gave a simple repanse:
'Stop'.