cyrpto appeal, blasts, filing, leadership, Ripple, SEC Mark January 14, 2025 0 Comments

Ripple leadership blasts SEC after filing appeal

Ripple executives have criticized the U.S. Securities and Exchange Commission for its recent approach and legal strategies as Ripple’s XRP token drives increased trading activity.

Ripple CEO Brad Garlinghouse criticized SECOND Chairman Gary Gensler, accusing him of pursuing an agenda of “regulation by enforcement.” Gensler, who is expected to resign on January 20, has been a central figure in the SEC’s efforts to regulate the cryptocurrency industry.

Garlinghouse suggested these efforts neglect broader public concerns and the impact of the 2024 election.

Gensler, very much on brand – completely dismissive of the 2024 election and the American public – is fully committed to his failed “regulation by enforcement” agenda to the end. #Sad https://t.co/1FEzB8d13o

– Brad Garlinghouse (@bgarlinghouse) January 14, 2025

Stuart Alderoty, Legal Director added to critics, announcing that the SEC has denied Ripple’s request to delay the filing of its appeal brief, which is due January 15.

Alderoty called the decision unnecessary but reaffirmed Ripple’s confidence in its legal position. He expressed optimism that the matter would reach a resolution under the SEC’s new leadership.

The price of XRP won more than 9%, reaching almost $2.70.

Ripple versus SEC

Ripple and the SEC I went to court since 2020. The SEC alleges that Ripple violated securities laws by selling XRP, a cryptocurrency, without registering it as a security.

Ripple denies these claims, arguing that XRP is a digital asset similar to Bitcoin (BTC) or Ethereum (ETH), which the SEC has not classified as securities.

The dispute took a significant turn in August 2024 when a court ordered Ripple to pay $125 million in fines. The SEC subsequently appealed the decision, and Ripple’s recent request to delay the filing of its appeal brief was denied by the agency.