Ripple leadership blasts SEC after filing appeal 

Ripple executives have criticized the U.S. Securities and Exchange Commission for its recent approach and regulatory strategies as Ripple’s XRP token sees an increase in trading activity.

Ripple CEO Brad Garlinghouse criticized SEC Chairman Gary Gensler, accusing him of continuing his “regulation through enforcement” agenda. Gensler, who will leave his post on January 20, has been a central figure in the SEC’s efforts to regulate the cryptocurrency industry.

Garlinghouse argued that these efforts ignore broader public concerns and the impact of the 2024 election.

Gensler remains fully committed to his failed ‘regulation through sanctions’ agenda until the bitter end, completely ignoring the 2024 elections and the American public. #Sad https://t.co/1FEzB8d13o

— Brad Garlinghouse (@bgarlinghouse) January 14, 2025

Chief Legal Officer Stuart Alderoty added to the criticism by announcing that the SEC rejected Ripple’s request to postpone its appeal, which was due on January 15.

Alderoty said the decision was unnecessary but reaffirmed his confidence in Ripple’s legal position. He expressed optimism that the case would reach a resolution under new SEC leadership.

The price of XRP increased by over 9%, reaching approximately $2.70.

Ripple and SEC

Ripple and the SEC have been in court since 2020. The SEC alleges that Ripple violated securities laws by selling XRP, a cryptocurrency, without registering it as a security.

Ripple denies the allegations, arguing that XRP is a digital asset similar to Bitcoin (BTC) or Ethereum (ETH) that the SEC does not classify as a security.

The dispute took a significant turn in August 2024, when a court ordered Ripple to pay a $125 million penalty. The SEC later appealed the decision, and Ripple’s final request to postpone its appeal was denied by the agency.