The recent ruling on the Ripple case, in which XRP was declared as “sometimes a security and sometimes not,” has received criticism from Congressman Brad Sherman. Sherman has been critical of the cryptocurrency industry, linking it to illegal activities and financial impropriety. He believes cryptocurrencies primarily serve those looking to commit fraud or evade taxes and has expressed concerns about human trafficking, sanction violations, and tax fraud. The SEC argues that the ruling undermines the traditional test for determining when assets are securities. This news source provides information and opinions about the cryptocurrency industry but does not offer investment advice.
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