US senator: There's 'no reason why' crypto should exist

[newshunter]

US senator: There's 'no reason why' crypto should exist

Jon Tester is one of many Democratic senators slamming crypto of late, arguing that the sector is backed by nothing and provides nothing, so there's “no reason” why it should exist.

Source: US senator: There's 'no reason why' crypto should exist

Would appreciate your opinion about this

[Bobcrypto]

Mr Jon Tester has no idea how crypto and it's technology works and sould be educated properly. I think there are also some few people in the world who are doing well on their endeavor but have no knowledge of other sectors like cryptocurrency. My concern is largely on some people who are dubious like Sam bankman Fried who collapsed the FTX exchange, and brought shame and doubts that are now coming on news and social networks this days. I think that these dubious minded men and women on the crypto ecosystem should be thought a lesson that others may learn, and Sam Bankman Fried should be in prison to serve as lessons for these who may abuse their office even as leaders.

[Fenix]

Cryptocurrency has already proven that it can successfully work as a financial asset even if it is not backed by anything. After all, it works on completely different principles than fiat states. At the same time, the cryptocurrency is periodically criticized by various politicians and especially employees of the banking sector, from whom the cryptocurrency takes away their potential customers. But cryptocurrency continues to gradually gain the trust of people and this is facilitated by its legalization by a significant part of high-income countries.