Ripple CEO Brad Garlinghouse Criticizes SEC for Overlooking XRP Lawsuit

Ripple’s CEO, Brad Garlinghouse, has criticised the U.S. Securities and Exchange Commission (SEC) for disregarding a court decision that classified XRP as a non-security.

Garlinghouse expressed frustration after the SEC maintained its stance in the Bitnomial case, where the crypto exchange opposed the classification of XRP futures as “security futures.” He accused the SEC of ignoring the court’s ruling, which confirmed that XRP is not a security.

Ripple’s legal counsel, Stuart Alderoty, also voiced concerns over the SEC’s handling of the case. He argued that the agency’s aggressive behaviour undermined public confidence in its regulatory practices.

Bitnomial's legal challenge disputes the SEC’s classification of XRP futures, claiming these should fall under the Commodity Futures Trading Commission (CFTC) instead. The exchange accuses the SEC of overstepping its authority, mirroring Ripple’s previous arguments in the ongoing legal conflict.

Read more: Ripple Co-Founder Donates $1 Million in XRP to Support Kamala Harris

Ripple-SEC Battle Continues

Despite the SEC's appeals, XRP’s value remains below $0.55 as the legal dispute continues.

The SEC's refusal to acknowledge the court ruling in Ripple’s favour raises concerns over its approach to crypto regulation, risking industry confidence.

Read more: Ripple Takes the SEC Head-On with Cross-Appeal Notice: Will This Never-Ending Clash Ever End?