U.S. Congressman calls for bill to ‘outlaw’ cryptocurrencies

Speaking in front of the House Financial Services Committee, U.S. Congressman Brad Sherman (D-CA) has called for Congress to adopt a bill that would ban Americans from purchasing cryptocurrencies. As Sherman argued, "I look for colleagues to join with me in introducing a bill to outlaw cryptocurrency purchases by Americans...in part because an awful lot of our international power comes from the fact the dollar is the standard unit of international finance and transactions." Sherman pointed to the example of the terrorist group Hamas, which accepts Bitcoin ($BTC) donations.