Brad Garlinghouse tweeted critical of the SEC’s judicial process.
Ripple CEO Brad Garlinghouse has criticized the judicial process with the SEC. Garlinghouse criticized the judicial process with the SEC and the SEC’s stance in this process.
Brad Garlinghouse criticizes the due process between Ripple Labs and SEC
In the past weeks, the summary decision was announced in the case between Ripple Labs and the SEC. After the summary decision, statements came one after another from the SEC and Ripple. Most recently, Brad Garlinghouse responded with a double tweet regarding the due process between Ripple Labs and the SEC. Garlinghouse noted that the SEC has caused confusion by running the crypto business like the police, even though it has no legal jurisdiction. He also stressed that he found it absurd to blame the judges and that faithful enforcement of the law was the only way to protect retail.
An important topic has come up about protecting retail. The SEC created this mess by proclaiming it was the cop on the crypto beat when it had no legal jurisdiction Where’s that gotten us? Consumers left holding the bag in bankruptcy court while the SEC holds press conferences.
— Brad Garlinghouse (@bgarlinghouse) July 22, 2023
Ripple CEO criticized the SEC’s approach and argued that the crypto industry should be regulated with clearer rules. He also noted that representation is supported by members of Congress and that law should focus on regulation.
Statements from SEC lawyers and Garlinghouse’s response leave the future of the Ripple case and the possibility of an appeal unclear. If there is an appeal, the Ripple case will go to the Second Circuit Court of Appeals.
