The post Ripple CEO Drops Bombshell, Accuses ‘Renegade’ SEC Of Breaking The Rules appeared on BitcoinEthereumNews.com.

If you think the four-year rift between Ripple Labs and the US Securities and Exchange Commission (SEC) is over, think again. In a series of X (Twitter) posts, Ripple executives shared their frustrations with the SEC after it ignored the court’s recent decision on XRP. Despite a recent court ruling, Ripple’s Chief Legal Officer, Stuart Alderoty, challenges the agency’s continued claim that XRP is a security. Brad Garlinghouse, Ripple’s CEO, has joined the chorus, calling the SEC “a renegade agency.” Ripple’s troubles with the SEC has a long history. Ripple was launched in 2012 and caught the industry’s attention in such a short time. By 2013, the company rebranded to Ripple Labs and soon partnered with Germany’s Fidor Bank. Ripple’s decentralization and unique consensus mechanism validate its standing as a force in cross-border payments. However, its growing popularity comes at a cost: the US SEC launched an investigation into the company, which continues to ripple (no pun intended) until today. A new low for a renegade agency many thought couldn’t sink further. The SEC now believes it can operate above the law, ignoring a Court’s ruling that XRP isn’t a security. Team Ripple will be watching closely and weighing our own options to hold the SEC accountable. https://t.co/9yMWsNHRde — Brad Garlinghouse (@bgarlinghouse) October 11, 2024 Bitnomial Case Offers A Brief Win For Ripple The latest flurry of Twitter/X posts from Ripple Labs execs come after the judge ruled on the Bitnomial case. Bitnomial, a popular crypto derivatives exchange, filed a lawsuit against the SEC in an Illinois court. The company challenged the SEC’s claims that its proposed XRP Futures contracts are subject to the agency’s jurisdiction. Bitnomial argues that XRP is not a security, and its anonymous sale in the secondary market is not considered a sale of investment contracts.…

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Filed under: News - @ October 14, 2024 5:09 am