During the hearing of a subcommittee for the House of Representatives Financial Services Committee, Brad Sherman pushed for the ban on digital coin purchases.
"We should prohibit U.S. persons from buying or mining cryptocurrencies," he argued.
As the news reports read, the official believes that it is quite possible that cryptos can get a money form someday, though at present coins are mostly used by the countries to avoid US sanctions or for tax dodging.
At the same time, Norbert Michel, director for the Center for Data Analysis at the Heritage Foundation, said during the hearing that it would wrong to generalize all the potential and associate cryptocurrencies only with possible use for the criminal and illegal activities.
"Yes it is true that criminals have used bitcoin, but it's also true that criminals have used air planes, computers and automobiles. We shouldn't criminalize any of those instruments simply because criminals used them," Norbert Michel responded.
He also added that cryptocurrency will not replace the dollar until the state regulator manages to fulfil its responsibilities as the national currency manager. At the same time, the authorities must not restrict people and provide options for more comfortable for them ways of exchange.