TechFlow News — On July 30, Ripple CEO Brad Garlinghouse launched a sharp critique of the U.S. Securities and Exchange Commission (SEC) on the X platform. He pointed out that despite SEC Chair Gary Gensler's claims of clear rules, the SEC's inconsistent enforcement practices have caused significant chaos in the crypto industry. Garlinghouse argued that this behavior not only reflects hypocrisy within the SEC but may also conceal political agendas and/or malicious litigation strategies, rather than faithful execution of the law.
Previously, the SEC filed a lawsuit against Binance, accusing it of violating securities laws and classifying cryptocurrencies such as BNB, BUSD, SOL, ADA, and MATIC as securities. However, recent amended filings no longer include these classifications, further fueling industry skepticism toward the SEC's actions.
