A member of the House of Representatives of the US Congress denied Fox Business Network information about his comments regarding the US regulator’s litigation with Ripple.
Fox Business reporter Charles Gasparino recently
wrote on Twitter that supposedly California Congressman Brad Sherman expressed confidence in the victory of the US Securities and Exchange Commission (SEC) in a lawsuit with Ripple. According to a Fox Business Network publication, Sherman urged the agency to include cryptocurrency exchanges that allow XRP to be traded in the lawsuit. This statement caused a strong reaction from XRP supporters. They demanded an explanation from Sherman: why is he so sure that the SEC will win the case.
According to FBN journalist Eleanor Terrett, Sherman called XRP a security. His conclusion was based on the fact that US cryptocurrency exchanges began delisting XRP after the SEC charged Ripple with conducting an illegal ICO. This indicates that trading platforms agree with the regulator calling XRP a security.
The congressman later tweeted that journalists had misinterpreted his statement. He does interact a lot with SEC Chairman Gary Gensler and sometimes they talk about crypto assets. However, their conversations never touched Ripple or XRP. The only time he mentioned XRP was during a speech by SEC Enforcement Director Gurbir S. Grewal.
.@FoxBusiness has it somewhat wrong. I often speak to SEC Chair Gary Gensler, sometimes about Crypto, but never regarding XRP. Only conversation I’ve had with an SEC official regarding XRP is testimony of Director Gurbir Grewal (1/2) https://t.co/a83jf53m3v
— Congressman Brad Sherman (@BradSherman) July 20, 2022
Sherman has long been considered an opponent of cryptocurrencies. Back in 2019, he urged U.S. regulators to ban digital assets, believing they threaten the status of the U.S. dollar.
Source: Bits
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