Democratic lawmaker says TRUMP coin represents the ‘worst of crypto’

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Democratic Lawmaker Slams TRUMP Coin as 'Worst of Crypto'

A Democratic lawmaker has denounced the TRUMP coin, a cryptocurrency launched in support of former US President Donald Trump, as the worst of crypto. Representative Brad Sherman (D-CA) expressed his concerns in a recent interview, calling the coin a scam and a fraud. Sherman argued that the coin is a prime example of the dangers of unregulated cryptocurrencies, which he believes can be used for illicit activities such as money laundering and terrorism financing.

The TRUMP coin was launched in December 2021 by a group of Trump supporters. The coin's website claims that it is a digital currency that will make America great again. However, Sherman dismissed these claims as nonsense, arguing that the coin has no intrinsic value and is only worth what people are willing to pay for it.

Sherman's criticism of the TRUMP coin is part of a broader effort by Democrats to crack down on unregulated cryptocurrencies. In recent months, several Democratic lawmakers have introduced legislation that would impose stricter regulations on cryptocurrencies, including requiring exchanges to register with the government and report suspicious transactions.

The TRUMP coin is not the only cryptocurrency that has come under fire from Democrats. In February 2022, Senator Elizabeth Warren (D-MA) introduced a bill that would ban the use of cryptocurrencies for illicit activities. Warren argued that cryptocurrencies are a threat to our national security and that they can be used to evade sanctions, launder money, and finance terrorism.

The debate over cryptocurrencies is likely to continue in the coming months. As the popularity of cryptocurrencies grows, so too will the calls for regulation. It remains to be seen whether Democrats will be successful in their efforts to crack down on unregulated cryptocurrencies.

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