Congressman Brad Sherman has criticized the recent Ripple case ruling that declared XRP as "sometimes a security and sometimes not." During a congressional hearing, Sherman labeled the verdict as "ridiculous" and expressed his broader critique of the crypto industry, which he associates with illegal activities and financial impropriety.

He warned against the illicit uses of cryptocurrency, highlighting concerns about human trafficking, sanction violations, and tax fraud. The Securities and Exchange Commission (SEC) is considering an appeal to the Ripple ruling, which it believes contravenes existing securities laws.