A congressman, who met with representatives from the US Securities and Exchange Commission (SEC), targeted exchanges where investors can buy and sell XRP.
A Congressional committee in the US met with SEC official Gurbir Grewal today to evaluate the SEC’s policies.
Brad Sherman, a Democratic Party member from California and chair of the committee, said during his speech that the SEC’s While appreciating that he has sued Ripple for XRP, of the SEC He criticized the fact that he did not make additional interventions.
sherman, “(SEC) made a decision that XRP is a security and therefore started targeting XRP. But for some reasons that I want to dwell on, illegally conducting tens of thousands of securities transactions. It didn’t go after the exchanges that allowed it.” said.
During the hearing, during which Grewal answered questions from members of Congress, Sherman said, “You know it’s a security. This means that they (these exchanges) are operating a securities exchange illegally. If they are aware that it is illegal, if you are aware that it is illegal, if I am aware that it is illegal, I hope you will fall for it.” he added.
Securities and Exchange Commission, Ripple illegal sale of securities filed a lawsuit at the end of 2020. The lawsuit between the parties continues today.