Ripple's legal dispute with the U.S. Securities and Exchange Commission (SEC) has intensified as CEO Brad Garlinghouse openly criticized the SEC's regulatory tactics.
He argued that the agency, led by Gary Gensler, continues to rely on regulation-by-enforcement strategies rather than providing clear rules. In response, #Ripple filed a cross-appeal to challenge unresolved legal issues, particularly concerning XRP's classification as a security.
Stuart Alderoty, Ripple's General Counsel, emphasized that the cross-appeal aims to clarify key legal issues. Ripple contends that XRP is not an "investment contract," which they think the SEC has failed to address.
Alderoty also pointed out that the #SEC could not sue to have Ripple's #XRP sales on exchanges as securities, which is a significant blow for the agency.
The post "Ripple Escalates Legal Battle with SEC as Cross-Appeal Challenges XRP’s Classification" first appeared on 36crypto.com News.
