Congressman Brad Sherman: “I never predicted the SEC victory over Ripple”

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A member of the US House of Representatives denied Fox Business Network's information about his comments regarding the US regulator's trial with Ripple.

Fox Business reporter Charles Gasparino recently
tweeted that allegedly the congressman fromCalifornia state Brad Sherman expressed confidence in the victory of the US Securities and Exchange Commission (SEC) in the legal battle with Ripple. According to a Fox Business Network publication, Sherman called on the department to include cryptocurrency exchanges that allow trading of XRP in the lawsuit. This statement caused a strong reaction from XRP supporters. They demanded that Sherman explain why he was so confident that the SEC would win the case.

According to FBN journalist Eleanor Terrett(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 thatjournalists misinterpreted his statement. He does interact frequently with SEC Chairman Gary Gensler, and sometimes they talk about crypto assets. However, their conversations never touched on Ripple or XRP. The only time he touched on 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 called on American regulators to ban the use of digital assets, believing that they threaten the status of the US dollar.