Ripple CEO Reveals More Evidence Of SEC Hypocrisy
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August 1, 2024 9:40 am
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CEO of Ripple Brad Garlinghouse has called out the SEC in his latest post on X.
In response to the news, the SEC retracted its request in court to classify tokens like Solana, Cardano, and Polygon as securities in its lawsuit against Binance; Garlinghouse wrote, “More evidence of SEC hypocrisy.”
He continued, “Chair Gensler testifies the rules are clear, yet his SEC can’t figure them out and applies them haphazardly, festering more industry confusion.”
“A political agenda and/or bad faith litigation tactics. Def not a “faithful allegiance to the law,” added Garlinghouse.
Take a look:
More evidence of SEC hypocrisy.
Chair Gensler testifies the rules are clear, yet his SEC can't figure them out and applies them haphazardly, festering more industry confusion.
A political agenda and/or bad faith litigation tactics. Def not a “faithful allegiance to the law". https://t.co/iX8IdvaW92
— Brad Garlinghouse (@bgarlinghouse) July 30, 2024
Per Times Tabloid:
Ripple CEO Brad Garlinghouse recently criticized the U.S. Securities and Exchange Commission (SEC) for its inconsistent handling of cryptocurrency regulation.
In a recent post on X, Garlinghouse noted that the SEC’s actions contribute to industry confusion, calling into question the commission’s commitment to faithfully applying the law.
In response to CoinTeleGraph’s post, Brad Garlinghouse wrote, “More evidence of SEC hypocrisy. Chair Gensler testifies the rules are clear, yet his SEC can’t figure them out and applies them haphazardly, festering more industry confusion. A political agenda and/or bad faith litigation tactics. Def not a “faithful allegiance to the law”.
This criticism came in response to the SEC’s decision to retract its request for a court ruling that would classify certain cryptocurrencies as securities in its ongoing lawsuit against Binance.
The @SECGov has retracted its request for the court to classify tokens like @solana, @Cardano, and @0xPolygon as securities in its lawsuit against @binance. pic.twitter.com/QnTGxA4w7V
— Cointelegraph (@Cointelegraph) July 30, 2024
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