Ripple's Brad Garlinghouse Takes Aim at SEC's Approach

Ripple's Brad Garlinghouse criticizes the SEC's lack of clarity RippleXRP Legal XRPCommunity XRPArmy XRPthestandard XRPHolders

Commissioner Caroline D. Pham slammed the case as a striking example of"regulation by enforcement." The statement further reads:"The SEC complaint alleges that dozens of digital assets, including those that could be described as utility tokens and/or certain tokens relating to DAOs, are securities. It continues, the SEC's allegations could have broad implications beyond this single case, underscoring how critical and urgent it is that regulators work together.

Ripple is currently battling a lawsuit from the SEC over an"illegal securities offering" through XRP sales.According to the SEC's complaint, which was filed on Thursday in a federal court in Seattle, former Coinbase product manager Ishan Wahi isto have violated securities laws by repeatedly providing confidential information to his brother and friend by text and phone calls using a foreign phone.

It states:"We agree with Commissioner Pham and, respectfully, 100% disagree with the SEC's decision to file these securities fraud charges and the substance of the charges themselves. The SEC's charges put a spotlight on an important problem: the US doesn't have a clear or workable regulatory framework for digital asset securities."

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