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

The California Representative addressed the same committee during a December 2021 hearing on U.S. financial innovation at which Bankman-Fried was testifying. Sherman warned that crypto firm CEOs “with their lobbyists, their PACs, and their power” threatened regulators’ ability to protect consumers.

Members of the House Financial Services Committee will hold a hearing in December aimed at exploring the collapse of FTX and “broader consequences for the digital asset ecosystem.”