In a congressional hearing, Brad Sherman has called on the SEC’s Director of Enforcement to take additional legal action against crypto exchanges that previously offered XRP trading.
The Parliamentary Sub-Committee hasarrange hearing on supervision on Tuesday Focusing on the SEC’s Law Enforcement Department, at the center of the question is the SEC’s role in the crypto market.
“The department is facing new challenges in the form of cryptocurrencies and other digital assets,” said Brad Sherman, chairman of the D-California subcommittee, noting that with the commission’s approval of the case. With Ripple about XRP tokens, but he doesn’t know why there is no action on exchanges that have traded XRP.
“The department defines XRP as a security. And it’s working on XRP, but for what reason? Therefore, there is no action against exchanges that carry tens of thousands of illegal securities transactions,” Sherman said.
“You know it’s securities. That means they are operating illegal securities exchanges,” he continued in questioning. “If they knew it was illegal. And you know it’s illegal And I know it’s illegal. I hope you will focus on that.”
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