Ripple CEO Brad Garlinghouse harshly criticized the U.S. Securities and Exchange Commission in a recent social media post.
Following the SEC’s decision to suspend allegations in its ongoing lawsuit against Binance that its native crypto assets, Solana (SOL), Cardano (ADA) and Polygon (MATIC), are unregistered securities, Garlinghouse appeared on X to share his thoughts and slam the SEC’s inconsistent regulatory approach.
“Further evidence of the SEC’s hypocrisy. Chairman Gensler testifies the rules are clear, yet the SEC can’t understand them and is applying them haphazardly,” Garlinghouse tweeted.
Ripple Following SEC Complaint Amendment
The SEC announced its intention to amend its complaint against Binance, which could provide temporary relief to the alleged assets, which have previously been under intense scrutiny and faced delisting from trading platforms due to regulatory uncertainty.
The statement made no mention of Ripple (XRP), despite the ongoing legal battle between the two parties, in which the SEC accused Ripple and its executives Brad Garlinghouse and Christian Larsen of selling unregistered securities, specifically XRP, to the public through the company, valued at more than $1.3 billion.
The SEC’s amended motion is expected to be filed within 30 days of the court’s scheduling order, providing a temporary reprieve for SOL, ADA, and MATIC investors. Despite the SEC’s latest move, Garlinghouse’s criticism highlights concerns within the cryptocurrency industry about regulatory clarity and consistency, especially with Gary Gensler at the helm.
