Hearings on issues of ICO and cryptocurrency to the U.S. Congress: a Neanderthal from California and new “cryptopp”

At yesterday’s hearing in a Subcommittee of Congress on capital markets, securities dedicated to cryptocurrency and ICO sounded very different point of view.

In General they cannot be described neither as negative nor as positive for the industry of cryptocurrency. The Chairman of the Subcommittee finished hearings with the phrase which best characterizes everything that happens yesterday:

I hope that this hearing is more about the beginning, not the end.

However, as with any other hearing on these sounded the most different points of view. One of the most radical and at the same time ignorant was expressed by the Congressman from California, brad Sherman, who said that:

Cryptocurrency is nonsense. They are popular with guys who sit in my pajamas and tell their wives that they are about to become millionaires.

It is not surprising that the reaction of the crypto community was very tight:

Rep. @BradSherman of the US House is far too behind given his old age & far too ignorant that it is not even laughable. “Perhaps we’ll have another hearing when a terrorist group has been found using cryptocurrency.” ~ @BradShermanWhen cash has not done that?#ICOsInTheHouse— Neeraj Thakur (@NeerajT4) March 14, 2018

Brad Sherman nawiedzone so that it’s not even funny… and too behind the times, even considering his age…

Cryptopp

However, cryptocurrencies, and the innovative technologies found and staronki, for example, the Minnesota representative Tom Emmer, who defended the opposite, most of the speakers point of view:

I do not share the view of my colleagues on this occasion. Many of the elected officials who do not understand anything in this technology, saying we should regulate it.

Emmer said that both Democrats and Republicans should welcome the opportunities of access to capital offered by the blockchain technology.

I understand that there should be some regulation, but it must be balanced.

Many of the cryptocurrency community in social networks with approval, commented on such a clear and firm position. One of the commentators even gave him the title of “CryptoAPI”:

We have a new Crypto Daddy –> @RepTomEmmer from the US house. Sounds bullish. “I am worried about giving more power to the government and taking liberty from the public.” #ICOsInTheHouse— Neeraj Thakur (@NeerajT4) March 14, 2018