- Brad Sherman, has just been elected to take the helm as the Chairman of the Subcommittee on Investor Protection.
- Maxine Waters revealed that Sherman was elected to take up his new position that is also in charge of the SEC.
- Not all hope is lost following Sherman’s newly appointed position...
Brad Sherman, the well known United States Congressman who is against bitcoin and all things crypto, has just his week been elected to take the helm as the Chairman of the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets.
On December 5th, Maxine Waters, Chairwoman of the House Financial Services Committee, revealed that the Bitcoin naysayer was elected to take up his new position of Chair at the subcommittee that is in charge of the Securities and Exchange Commission (SEC)...
As well as being in charge of the New York Stock Exchange and the Financial Industry Regulatory Authority in his new position, Sherman is in charge of the one thing that could make or break the industry, the SEC.
Could this be a good thing?
Well, not all hope is lost following Sherman’s newly appointed position.
One of Sherman’s colleagues, Warren Davidson is a big-time crypto enthusiast. Having them both on the Financial Services committee will definitely make for an interesting experience I’m sure.
Davidson has recently said that Sherman is very much against the crypto space and doesn’t really like any part of it.
“In my view, [Sherman’s] goal is essentially to try to ban the internet. He’s like ‘we’re going to ban crypto, we need to ban crypto, the only reason to have any crypto asset is to launder money and evade taxes. Go back, rewind the tape. Every hearing on crypto, that’s Brad Sherman. He doesn’t like the space.”
It will be interesting to see how this situation plays out. Having two sides both for and against cryptocurrency is going to be interesting so for more news on this and other crypto updates, keep it with CryptoDaily!