Ripple CEO Brad Garlinghouse has openly criticized the U.S. Securities and Exchange Commission (SEC) in a recent social media post. Following the SEC’s decision to pause allegations that the native crypto assets of Solana, Cardano, and Polygon are unregistered securities in its ongoing lawsuit against Binance, Garlinghouse took to X to express his concerns about the SEC’s inconsistent regulatory approach.

Garlinghouse tweeted,

More evidence of SEC hypocrisy. Chair Gensler testifies the rules are clear, yet his SEC can’t figure them out and applies them haphazardly, causing more industry confusion.

The SEC announced its intention to amend its complaint involving Binance, a move that could temporarily relieve assets such as SOL, ADA, and MATIC, which were previously under intense scrutiny and facing potential delistings from trading platforms.

Despite this development, the statement did not mention Ripple, which remains embroiled in its own legal battle with the SEC. The SEC has accused Ripple and its executives, Brad Garlinghouse and Christian Larsen, of selling unregistered securities, specifically XRP, worth over $1.3 billion to the public.

The SEC’s motion to amend its complaint is due within 30 days of the court’s scheduling order, providing a brief respite for investors in Solana, Cardano, and Polygon. However, Garlinghouse’s critique highlights ongoing concerns within the crypto industry regarding regulatory clarity and consistency, especially under the leadership of Gary Gensler.

For more updates and detailed news on cryptocurrencies, investing, and finance, visit Global Crypto News. Stay informed about the latest developments in the crypto world.

Post Views: 4