Just when you thought the four-year battle between Ripple Labs and the SEC was over, the conflict intensifies. Rippleās top executives took to X (Twitter) to slam the SEC after the agency rejected a court ruling that XRP is not a security.
š Ripple vs. SEC ā The Showdown Continues
Stuart Alderoty, Rippleās Chief Legal Officer, fired back at the SECās defiance, disputing its stance that XRP is a security despite the recent court ruling. Rippleās CEO, Brad Garlinghouse, didnāt hold back either, calling the SEC a ārenegade agencyā for ignoring the legal verdict.
Ripple has had a rocky relationship with the SEC since 2012, quickly becoming a leader in cross-border payments thanks to its innovative decentralized consensus mechanism. But this success has come at a priceāyears of relentless scrutiny from the SEC.
āļø Ripple Gains Legal Ground
The tension escalated after a US District Judge Analisa Torres ruled in favor of Bitnomial, a crypto derivatives exchange, stating that XRP is not a security. Bitnomialās challenge to the SEC was bold, arguing that XRP Futures contracts donāt qualify as securities. The courtās decision was a victory not just for Ripple but also for XRP holders.
But despite the courtās ruling, the SEC insists XRP remains a security. Rippleās legal team wasnāt having itāAlderoty openly criticized the agency, calling its behavior illegal and a direct hit to its credibility. Garlinghouse echoed this sentiment on X, suggesting that the SECās defiance shows it believes itās above the law.
š£ The Industry Reacts
Rippleās fight isnāt without support. Legal experts like John Deaton and Bill Morgan have criticized the SECās tactics, questioning the agency's motives. Deaton pointed out that the Digital Licensing case reveals deeper issues with the SECās regulatory approach, suggesting the agencyās policy is on shaky ground.
š Whatās Next for XRP?
With Ripple Labs on the offensive and growing support from the crypto community, the stage is set for further confrontations with the SEC. As XRP remains at the heart of the debate, investors are watching closely to see how this battle unfoldsāand how it might impact the future of crypto regulation in the U.S.