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U.S. Senator Says He Sees No Reason Why Crypto Exists

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A US senator who is a crypto-sceptic is also on the loose. Democrat Jon Tester boldly stated that he doesn't see any reason why crypto should be legal.

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Tester, Montana's senior senator, has been a member of the Senate Banking Committee since 2007. He is also a member of the Senate Banking Committee. This committee is a critical player in the ongoing U.S. Crypto regulation debate.

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During a December 11 appearance on NBC's Meet the Press, Tester argued that crypto doesn't have any real value and that regulation of the sector would give it legitimacy.

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"It has not been able to pass the smell test. He said that he had not met anyone who could explain to me anything other than synthetics [...], which is nothing.

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Tester stated that he doesn't see any reason why such stuff should be created.

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The senator's anti-crypto comments and admitted ignorance of crypto were criticized by the crypto community. User @BS0064 said that it was "always nice to see people who don't know what they're talking about strong voice opinions about the matter."

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@blocknonprofit also argued that "it's real...imagine all those cryptos not traded on traditional exchanges today."

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A few weeks ago, Tester made some testy remarks to media startup Semafor, claiming that the sector was "all bullshit" and that he couldn't figure out "what supports it."

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Semafor's Dec. 1, article also contained opposing crypto stances by many Democrat senators. Crypto-hater Elizabeth Warren went in hard, noting that "finally, more people are blowing the bullshit whistle."

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