Congressman Brad Sherman calls for a complete ban on cryptocurrency, says Bitcoin only facilitates "nefarious transactions"

Congressman Brad Sherman, a vocal critic of the crypto industry, again called for a complete ban on cryptocurrencies.

Sherman said Bitcoin had no real use other than to fund illicit activities and warned about the risks cryptocurrencies pose to the political and financial stability in the U.S., he said in an interview with Bloomberg.

While the attitude of the U.S. Congress towards Bitcoin has been mellowing down in the past couple of weeks, there is still a strong political current fighting for a world without cryptocurrencies.

Congressman Brad Sherman, a ranking member of the House Financial Services Committee, seems to be leading that current.

Sherman recently appeared on Bloomberg TV to discuss the dangers of Facebook's proposed cryptocurrency, Libra, saying that it poses an unprecedented threat to the U.S. economy and national security.

Libra will become a Bitcoin offramp favored by criminals.

To support his stance that Bitcoin is used to fund illegal activities, Sherman cited an unnamed "Peer-reviewed" study that found that 46 percent of its transactions are "For people who are doing things illegally under U.S. law."

Unlike some of his Congress colleagues, Sherman doesn't seem to believe that Bitcoin is an unstoppable force.

California's San Fernando Valley representative indicated that Bitcoin is just a symptom of a larger problem.

Many Twitter users mocked his limited knowledge of the crypto industry, saying he was clueless about how Bitcoin actually works.