Join the larget crypto conference of 2023 in Bitcoin

If XRP is security then why are crypto exchanges not in violation of law, congressperson asks

If XRP is security then why are crypto exchanges not in violation of law, congressperson asks 6

Brad Sherman raised questions on the working system of the US securities body on the Crypto industry. Brad dragged the matter of Ripple vs SEC to explain his point of view that SEC enforcement is not much clear.

Brad Sherman is a congressperson. In the past, Brad called for banning digital assets in the United States. Now at the latest, he raised very sensitive questions on the Securities and Exchange Commission’s (SEC) approach to enforcement among major crypto platforms. 

On 19 July, Before the House Committee on Financial Services, Brad said that Gurbir Grewal, enforcement director at SEC agency, needed to show fortitude and courage when initiating securities lawsuits against cryptocurrency companies in the US. 

In particular, Brad asked why the SEC agency did not consider that the majority of the crypto exchanges, which are providing thousands of cryptocurrency trade services including XRP trade,  violated securities law because  XRP is unregistered security as per the lawsuit of SEC vs Ripple. 

“If XRP is a security — and you think it is, and I think it is, why are these crypto exchanges not in violation of law and is it enough that the crypto exchanges have said ‘well, having committed tens of thousands of violations in the past, we promise not to do anymore in the future?’”

In this way, Congressperson criticized the enforcement system of the agency against crypto companies and tokens. 

Mr. Grewal responded to this question of the Congressperson and said that particular crypto platforms are only small fish. In particular, he pointed out the violation of securities law by the Poloniex exchange, which was under the radar of the agency. Grewal noted that the majority of the crypto exchanges like Kraken, Coinbase, and BinanceUS stopped providing trading, even it was profitable.

Sec director Grewal indirectly tried to say that the lawsuit against Ripple (XRP) resulted in some better results, where the majority of the exchanges stopped providing XRP trading. 

Read also: LG may Jump in Metaverse as it files for NFTs trademark

If XRP is security then why are crypto exchanges not in violation of law, congressperson asks






Ads by Cryptonews24


ETH-ERC20 Mining and Financial Management

ETH-ERC20 Mining and Financial Management

✅ Minimum Investment: 10 USDT.
✅ Minimum withdrawal: 1 USDT.
✅ Withdrawal time: 24h.
✅ Withdrawal day: Everyday.
✅ 5% cashback on first investment.
✅ daily profit 6-11.5% on your investment (Profit will be added every hour in your wallet).
✅ Get up to 10% referral Bonus.

The output of liquid mining is not constant and may be affected by the liquidity of the blockchain. The expected daily production income:


✅ VIP2: DEPOSIT 10001~50000 USDT GET 2.5% EVERYDAY


✅ VIP4: DEPOSIT 100001~200000 USDT GET 4% EVERYDAY

✅ VIP5: DEPOSIT 200001~500000 USDT GET 5% EVERYDAY

✅ VIP6: DEPOSIT 500001~1000000 USDT GET 7% EVERYDAY



📌 You must open wallet  (Metamask, Tronlink e.t.c. ) and connect it,  for earning income




ETH-ERC20 Mining and Financial Management


Support Telegram Group:


Ads by Cryptonews24




Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin. provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice. recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.


Please follow and like us:
Social media & sharing icons powered by UltimatelySocial