Why Crypto Has Not Been Banned Yet  Congressman Explains | Crypto

Why Crypto Has Not Been Banned Yet Congressman Explains

Congressman Brad Sherman is among the biggest crypto skeptics in Washington D.C Congress.

Sherman is currently serving his thirteenth tenure in congress and is a senior member of the House Financial Services Committee and the House Foreign Affairs Committee.

Sherman called for a Cryptocurrency ban in the United States on May 9, 2019.

At a hearing titled Oversight of the SECs Division of Enforcement, Sherman asked Gurbir S. Grewal a question. He asked Gurbir why he only went after XRP and not all the major crypto exchanges that process far more transactions than XRP.

Sherman criticized SEC for not going after the big guys that allowed XRP to exist in the U.S.

Sherman said that crypto wasnt banned initially because they didnt think it was important, and now the power behind crypto has grown too much.

Sherman called digital assets a Ponzi scheme and said that cryptocurrency is a meme coin, like Ponzi; someone invests in it with the hope of selling it before it tanks.

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