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.
Another crypto-skeptic United States senator is on the loose. Democrat Jon Tester boldly stated that he sees no reason why crypto should exist.
Tester is the senior senator of Montana and has held a seat there since 2007. He also serves on the Senate Banking Committee, which is one of the key players involved in the ongoing debate over U.S. crypto regulation.
During a Dec. 11 appearance on NBC’s Meet the Press, Tester argued that as crypto has no real value at all, the sector shouldn’t be regulated, as that would give it legitimacy.
“It’s not been able to pass the smell test for me. I have not been able to find anybody who’s been able to explain to me what’s there other than synthetics which means nothing,” he said, adding that:
The problem is if we regulate it, and I pointed this out to some of the regulators here a week or two ago, if we regulated it, it may give it the ability of people to think it’s real. In line with such thinking, Tester then went on to state that he sees no reason why this stuff should exist at all.
Tester’s most-recent testy comments come just a couple of weeks after he told media startup Semafor that the sector was “all bullshit” and that he can’t “figure out what supports it.”
Semafor’s Dec. 1 article was also littered with negative crypto stances from a bunch of Democrat senators, with crypto-hater Elizabeth Warren going in hard by noting: “finally, there are more people blowing the bullshit whistle.