Could bitcoin (BTC) be used only for tax evasion?

Could bitcoin (BTC) be used only for tax evasion?

If there is one thing we can be sure of, it is that there is no shortage of bitcoin (BTC). A US congressman recently slammed the flagship cryptocurrency. He said he does not own the digital asset “of no societal value” and is only useful for tax evasion. Find out the identity of this member as well as the actions he takes against bitcoin (BTC).

US Congressman Totally against Bitcoin (BTC)!

Once again, US Congressman from California Brad Sherman showed his hostility towards bitcoin (BTC). In fact, during a recent interview, Sherman said that cryptocurrency lacks intrinsic value. According to him, far from having societal value, bitcoin (BTC) facilitates crimes such as tax evasion. This is the only reason why the asset would have some advantage over the dollar. The legislator added to that bitcoin (BTC) cannot be the currency of the future.

Brad Sherman explained: “Let it be currency. In this case, it will only exist because it can outperform the dollar for some relatively large deals, including tax evasion, which is why it has no societal value. We want people to invest in building assets for the American economy.»

It should be noted that Sherman lobbying for a bitcoin ban​​​​ (BTC). He then admitted that it is almost impossible to ban this asset at the moment. However, he believes that the government has the opportunity to regain more or less control over the situation. For that it is enough that it implements regulations that make bitcoin lose some of its benefit.

Brad Sherman, who compared bitcoin (BTC) to the Ponzi scheme, continues to criticize cryptocurrency. A few weeks earlier, he explained:We didn’t ban it at first because we didn’t realize it was important, and we don’t ban it now because there’s too much money and power behind it.»

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Download avatar Luc Jose Adjinacou
Luc Jose Adjinacou

Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and pass my pen knowledge related to this ecosystem.

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