Ripple’s CEO, Brad Garlinghouse, criticized the SEC’s regulation-by-enforcement approach, intensifying their ongoing legal dispute.
General Counsel Stuart Alderoty emphasized that Ripple’s cross-appeal seeks to clarify whether XRP can be classified as an investment contract.
Despite legal challenges, XRP’s bullish sentiment persisted, with long positions on exchanges like Binance and OKX surpassing a 3.5 ratio.
Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) has taken another turn as CEO Brad Garlinghouse publicly criticized the agency’s approach to regulation. Garlinghouse argues that the SEC, under Chair Gary Gensler, persists in a regulation-by-enforcement strategy. In a move to address all aspects of the case, Ripple filed a cross-appeal, escalating the conflict over XRP’s classification.
Ripple Fights Back: Cross-Appeal Seeks Clarity on Key Legal Issues
Stuart Alderoty, Ripple’s General Counsel, clarified that the cross-appeal aims to resolve lingering legal questions. Ripple contends that an “investment contract” cannot exist without the typical rights and obligations of a standard contract.
Ripple has consiste…
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