Ripple CEO Alleges SEC Chair Incorrectly Labels Tokens As Securities In Lawsuits

Ripple News: The digital asset industry finally witnessed the release of much anticipated Hinman speech linked documents in the US SEC Vs XRP lawsuit. The release of crucial memos opened up different aspects for Ripple against the commission. However, Defendant and Ripple CEO, Brad Garlinghouse addressed the release of Hinman Docs in a video.

Ripple CEO Mocks SEC Over Clear Rules

Ripple CEO stated that the release of Hinman documents is the truly first time the SEC was forced to be transparent regarding their lack of internal coherence. This move acknowledged that the commission may not have the jurisdiction to fill the regulatory gap around the crypto industry.

He added that the US SEC has been asking for transparency from the digital asset linked businesses. However, the commission fought hard to protect these momes and ditch transparency. This has led the SEC Chair Gary Gensler refuse to comment on several specific projects.

Ripple CEO mentioned that the commission is now indirectly and incorrectly labeling tokens as securities in recent lawsuits. The US SEC chair is promoting that there are clear rules meanwhile the agency is trying to front run Congress.

The commission recently filed back to back lawsuits against the two biggest crypto exchanges, Binance and Coinbase. It alleged that Binance, its US affiliate and its executives were operating illegally. While Coinbase was offering unregistered securities to its users.

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