"Crypto has too much money and power to ban it" - Brad Sherman, U.S. legislative representative

A U.S. representative shared why Congress has yet to ban cryptocurrencies. If he is to be believed, it's all about the power and money circulating in the industry.

The U.S. lawmaker from California, who heads the House subcommittee on investor protection, wants to outlaw cryptocurrencies but doesn't think Congress will take such action. "I don't think we [will ban cryptocurrencies] anytime soon," he told the publication.

"We didn't ban it in the beginning because we didn't realize it was important, and we haven't banned it now because there's too much money and power behind it," Sherman added.

The congressman believes that not only can individual investors be tricked by crypto, but it is also a threat to U.S. national security.

He is especially concerned about crypto mixers. By pouring your stolen or legally obtained crypto into them, you can completely hide its origin, for there is, alas, no end to the endless mixes of crypto between wallets anymore.