Ripple CEO Brad Garlinghouse Slams SEC; Mentions Bad Faith

It’s been just reported the fact that Ripple CEO Brad Garlinghouse slammed the SEC and mentioned bad faith. Check out the latest news on the matter below.

According to the latest reports, it seems that Ripple chief executive Brad Garlinghouse slammed the U.S. Securities and Exchange Commission (SEC) this week following the public release of long-awaited documents in the company’s ongoing legal battle with the regulator.

It has been just revealed the fact that there are some documents that involve internal SEC deliberations regarding a speech delivered by former SEC official William Hinman in 2018 when he stated in his official capacity that he believed both Bitcoin (BTC) and Ethereum (ETH) are not securities.

It has been revealed the fact that after years of legal squabbling over their release, those internal emails between SEC officials related to the speech have now been made public.

It is also important to note the fact that these indicate Hinman may have ignored warnings from SEC colleagues that his speech contained inconsistencies or confusion.

Garlinghouse criticized Hinman and said that the SEC has “weaponized” the lack of regulatory clarity in the years since his speech.

“It’s absolutely unconscionable that a regulator – when presented with so much pushback on what he was about to say/how he compiled this fake ‘test’ in the first place – decided to move forward anyway, and throw an entire industry into chaos.”

It has been also revealed the following fact:

“For the SEC to sue [Ripple Executive Chairman Chris Larsen] and me personally for allegedly selling unregistered securities when their own division head deliberately created confusion about this… well, I don’t have a single polite word to describe this deplorable, politically-motivated overreach.”

Stay tuned for more news from the crypto space, and make sure to check out the markets as well.