Ripple CEO Criticizes SEC’s Inconsistent Crypto Regulation

Ripple's CEO, Brad Garlinghouse, has sharply criticized the SEC's latest legal maneuver against Binance, accusing the regulator of inconsistent and politically motivated actions.

Garlinghouse argues that the SEC’s proposed revisions to its complaint, which involve reclassifying several cryptocurrencies like Solana and Cardano as securities, reflect a troubling lack of clarity and fairness in its regulatory approach.

He asserts that SEC Chair Gary Gensler’s statements about regulatory clarity are at odds with the SEC’s chaotic enforcement tactics, which he believes are fueling industry confusion.

Garlinghouse suggests that these actions may not be driven by genuine legal principles but by political agendas or litigation strategies.

Supporting Garlinghouse, Ripple’s Chief Legal Officer, Stuart Alderoty, points out inconsistencies in the SEC’s treatment of different cases.

Meanwhile, attorney John Deaton, who has been involved in Ripple’s legal battles, has criticized the SEC for causing harm to retail investors and called for Gensler’s resignation. Deaton argues that the SEC’s claims lack legal basis and have led to significant investor losses.