Brad Sherman says he ‘would’ ban crypto — maybe he meant ‘wouldn’t’!
There are lots of ways to start a Twitter storm, but U.S. Representative Brad Sherman perhaps didn’t anticipate that his call for a blanket ban on “buying or mining cryptocurrencies” would lead to a mighty backlash on the social media channel. Or did he think he was being cute?
On Wednesday 18th July, Congress hosted a pair of back-to-back hearings on the
topic of cryptocurrencies, when the Congressman made his inflammatory statement. It’s important to know that this isn’t the first time he has courted controversy in the crypto sphere. There may have been 400 other representatives at the Congress hearings, but suddenly all eyes were on Sherman, a Democrat California. (Yes, you would think a Democrat might be more supportive, especially one form free-thinking California.)
Crypto supporters leapt onto Twitter accusing Sherman of bias due to the fact one of his major campaign donors was a credit card company, and it doesn’t like crypto very much at all.
Anyway, as more crypto supporters jumped on Twitter to comment on the hearings overall, and Sherman in particular, the hashtag #CryptoCongress gained momentum. According to data from Twitter analytics site Keyhole, the hashtag had a reach of over 1 million accounts and more than 2.7 million impressions from the start of the hearings to the beginning of Friday 20th.
Some tweets accused Sherman of being “ill-informed and laughable,” while another said, “I’m pretty sure everyone can agree this guy has ZERO clue about this new asset class,” while one tweeted “how about the USA voters kick you out next term” and others pointed out that Sherman should look more closely at the widely-used criticism that the U.S. government is endlessly printing dollars.
Indeed, there were a number of Californians who tweeted that Sherman had lost their vote and an #UnseatSherman2018 hashtag appeared. Others have noted that the crypto community often indulges in sniping and in-fighting on social media, but Sherman brought them together: one tweeted: “Nothing brings the crypto community together faster than shit talking congressmen.”
Perhaps Sherman will reverse his opinion today — perhaps he meant he ‘wouldn’t’ ban crypto, after all that’s a trend set by the President this week, maybe Sherman will take a leaf out of Trump’s book.