CandleFocus Ripple’s Legal Chief Raises Constitutional Alarm Over SEC’s Latest XRP Classification
2024-10-12
Author: Content Editor
Ripple's Chief Legal Officer, Stuart Alderoty, has raised concerns about the SEC continuing to classify XRP as a security despite a court ruling that stated otherwise. This comes in the midst of a lawsuit by crypto exchange Bitnomial, which challenges the SEC's claim that Bitnomial's proposed XRP Futures contract falls under SEC jurisdiction. Ripple CEO Brad Garlinghouse joined the criticism, calling the SEC a "renegade agency" and stating that Ripple is considering legal options to hold the SEC accountable. Both Ripple and Bitnomial are concerned that the SEC's actions undermine judicial decisions and the legitimacy of regulatory enforcement.
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