Ripple CEO Accuses SEC of ‘Hypocrisy’ and Confusing Regulations

Ripple CEO Brad Garlinghouse harshly criticized the U.S. Securities and Exchange Commission in a recent social media post.

Following a decision by the SEC TO put the accusations on hold that Solana’s native cryptocurrencies (SOL), Cardano (ADA), and Polygon (MATIC) are unregistered titles in his ongoing lawsuit against BinanceGarlinghouse reached out to X to share his thoughts and criticize the SEC’s inconsistent regulatory approach.

Garlinghouse tweeted: “More evidence of SEC hypocrisy. Chairman Gensler testifies that the rules are clear, but his SEC fails to understand them and applies them haphazardly.”

Ripples in the wake of SEC complaint amendment

The SEC has announced its intention to amend its complaint regarding Binance, which could provide temporary relief for these incriminated assets. They were previously under intense scrutiny and faced delisting from trading platforms due to regulatory uncertainty.

The statement did not refer to Ripple (Exchange rate risk), despite the ongoing legal dispute between the two parties. The SEC has accused Ripple, as well as its executives Brad Garlinghouse and Christian Larsen, of selling unregistered securities, specifically XRP, worth over $1.3 billion to the public through their company.

The SEC’s motion to amend the rule must be filed within 30 days of the court’s scheduling order, offering a brief reprieve to investors in SOL, ADA, and MATIC. Despite the SEC’s latest move, Garlinghouse’s criticism underscores concerns within the cryptocurrency industry about regulatory clarity and consistency, especially with Gary Gensler at the helm.

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