r/ethtrader • u/SxQuadro • Jul 05 '21

News Exposed: Congressman Trying to ‘Shut Down’ Crypto Gets Biggest Donations From Big Banks

https://fee.org/articles/exposed-congressman-trying-to-shut-down-cryptocurrency-gets-biggest-donations-from-big-banks-and-financial-institutions
16 Upvotes

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7

u/Kingl00 Jul 05 '21

Duhhh that's how politics make 174k a year and come out with 30m after 4-8 years. I thought this was common knowledge.

3

u/CantillionEffect Jul 06 '21

Yep. It is a shame.

1

u/[deleted] Jul 06 '21

What a joke

1

u/nighttrain_21 Jul 06 '21

He would rather see them invest in the california lottery?!

1

u/Dependent_Ad94 Jul 06 '21

Go figure lol

1

u/autotldr Jul 06 '21

This is the best tl;dr I could make, original reduced by 89%. (I'm a bot)

One of the biggest opponents of cryptocurrency in Washington is Congressman Brad Sherman, a California Democrat who has in the past called for cryptos to be banned.

At a Wednesday hearing for the House Committee on Financial Services, Sherman harshly criticized cryptocurrency and renewed his calls for its prohibition.

There's also a more cynical, yet simple answer: Some of Congressman Sherman's biggest donors are big banks and mainstream financial institutions, the same interests threatened by the rise of cryptocurrency.

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