Ripple Criticizes SEC Over “Regulation by Enforcement” Agenda

Ripple executives have expressed their discontent with the U.S. Securities and Exchange Commission (SEC) over its recent approach and legal strategies, particularly as Ripple’s XRP token experiences a surge in trading activity.

Ripple CEO Brad Garlinghouse Speaks Out

Ripple CEO Brad Garlinghouse has publicly criticized SEC Chairman Gary Gensler, accusing him of pursuing a “regulation by enforcement” agenda. Gensler, who is set to step down on January 20, has been a key figure in the SEC’s efforts to regulate the cryptocurrency industry.

Gensler, very much on brand – completely dismissive of the 2024 election and the American public – fully commits to his failed ‘regulation-by-enforcement agenda to the bitter, bitter end.

Chief Legal Officer Stuart Alderoty Joins the Criticism

Chief Legal Officer Stuart Alderoty added to the criticism, announcing that the SEC declined Ripple’s request to delay filing its appeal brief, which is due January 15. Alderoty called the decision unnecessary but reaffirmed Ripple’s confidence in its legal position, expressing optimism that the case would reach a resolution under new SEC leadership.

XRP Price Surges Over 9%

The price of XRP gained over 9%, reaching nearly $2.70. This surge in trading activity comes as the dispute between Ripple and the SEC continues.

Ripple vs. SEC: A Brief Background

Ripple and the SEC have been in court since 2020, with the SEC alleging that Ripple violated securities laws by selling XRP, a cryptocurrency, without registering it as a security. Ripple denies the claims, arguing that XRP is a digital asset similar to Bitcoin or Ethereum, which the SEC has not classified as securities.

Tips for Investors: Staying Informed About Cryptocurrency Regulations

As the dispute between Ripple and the SEC continues, it’s essential for investors to stay informed about the latest developments in cryptocurrency regulations. Here are some tips to help you stay up-to-date:

  • Follow reputable sources for cryptocurrency news and updates.
  • Understand the different types of cryptocurrencies and their regulatory status.
  • Stay informed about changes in securities laws and their impact on the cryptocurrency market.

Stay tuned for more news and updates on the world of cryptocurrencies and finance at Global Crypto News.

Post Views: 1