According to recent <a href="https://cointelegraph.com/news/ripple-ceo-brad-garlinghouse-condemns-sec-hint-appeal-xrp" rel="noopener noreferrer nofollow">reports</a>, Brad Garlinghouse, the chief executive officer of Ripple, has criticized the US Securities and Exchange Commission for the latest remarks made by their lawyers implying that it might appeal in its action against Ripple. 
<h2 id="span-style-font-weight-400-ripple-exec-bases-sec-s-policies-span">Ripple Exec Bases SEC’s Policies</h2> 
In a <a href="https://twitter.com/bgarlinghouse/status/1682869087511416832?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1682869087511416832%7Ctwgr%5Ef0c9929ec5faee5543ec9a06f500375e94bff517%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fripple-ceo-brad-garlinghouse-condemns-sec-hint-appeal-xrp" rel="noopener noreferrer nofollow">tweet</a> sent on July 23, Garlinghouse bashed the Securities and Exchange Commission for their “regulation by enforcement” strategy, the action he claimed did nothing but to harm small-cap investors.&nbsp; 
<h3 id="span-style-font-weight-400-creating-a-mess-span">Creating a Mess</h3> 
He said: “​​The SEC created this mess by proclaiming it was the cop on the crypto beat when it had no legal jurisdiction,” he further tweets:&nbsp; “Where’s that gotten us? Consumers left holding the bag in bankruptcy court while the SEC holds press conferences.” 
The move comes after <a href="https://thecoinrise.com/former-sec-exec-thinks-ripple-labs-triumph-could-be-cut-short-on-appeal/" rel="noopener noreferrer nofollow">Marc Fagel, the SEC’s regional director</a> and experienced attorney, joined in regarding the current legal dispute between Ripple and the SEC. According to Fagel, the court’s ruling has resulted in a divided outcome, leaving opportunity for disagreement on both sides. Garlinghouse <a href="https://twitter.com/s_alderoty/status/1682769568232615936?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1682769568232615936%7Ctwgr%5Ef0c9929ec5faee5543ec9a06f500375e94bff517%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fripple-ceo-brad-garlinghouse-condemns-sec-hint-appeal-xrp" rel="noopener noreferrer nofollow">responded</a> to the statements by saying it was “absurd” to denounce a judge for simply enforcing the law. 
He said: “We all know legislation — not more regulation by enforcement — is the only way forward to provide clear rules and protect retail.” 
<h2 id="span-style-font-weight-400-ripple-vs-sec-span">Ripple vs. SEC</h2> 
The US regulatory authority <a href="https://www.sec.gov/news/press-release/2020-338" rel="noopener noreferrer nofollow">filed</a> an action against Ripple Labs in December 2020 for violating federal securities laws. Ripple allegedly sold XRP while the token was registered with the regulator, profiting approximately $1.5 billion from the sales. The conflict has been ongoing for approximately two and a half years, and several pieces of evidence, including the <a href="https://thecoinrise.com/sec-refuses-to-surrender-draft-of-willian-hinmans-speech-to-ripple/" rel="noopener noreferrer nofollow">presentation of Hinman’s Speech</a>, have emerged to support Ripple’s stance that its native money is not a security.&nbsp; 
<h3 id="span-style-font-weight-400-conclusion-of-legal-battle-span">Conclusion of Legal Battle</h3> 
Ripple executives, especially CEO Brad Garlinghouse, have <a href="https://thecoinrise.com/brad-garlinghouse-confident-of-ripples-victory-over-the-sec/" rel="noopener noreferrer nofollow">long anticipated the conclusion</a> of the legal processes. 
Finally, a few days ago, a federal judge <a href="https://www.theblock.co/post/239559/sec-faces-wake-up-call-after-ripple-ruling-though-appeal-likely" rel="noopener noreferrer nofollow">ruled</a> that portions of Ripple’s XRP token sales, which had been sued as securities violations by the SEC failed to fully satisfy the conditions of a securities offering. 
The post <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com/ripple-ceo-slams-sec-for-its-crypto-policies/">Ripple CEO Slams SEC for its Crypto Policies</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Ripple CEO Slams SEC for its Crypto Policies

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