Crypto skeptic Brad Sherman: federal financial regulators 'sound like Sam Bankman-Fried'

Crypto skeptic Brad Sherman: federal financial regulators ‘sound like Sam Bankman-Fried’


California Representative Brad Sherman, who repeatedly called for a ban on U.S. residents buying crypto, accused leaders at several financial agencies of parroting former FTX CEO Sam Bankman-Fried’s ideas on regulating digital assets.

In a Nov. 16 hearing before the House Financial Services Committee, Sherman directed his remarks to Federal Reserve vice chair of supervision Michael Barr, Federal Deposit Insurance Corporation acting chair Martin Gruenberg, National Credit Union Administration chair Todd Harper, and acting Comptroller of the Currency Michael Hsu. The U.S. lawmaker suggested the four regulatory heads had done little to address “crypto billionaire bros” using digital assets for the evasion of sanctions and taxes who merely “want the appearance of regulation” rather than clearly defined rules.

“The crypto billionaire bros are determined to get a

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