The CEO of Ripple, Brad Garlinghouse, celebrates the recent ruling in the company’s lawsuit against the SEC, stating that it is the first crypto case that the SEC has lost. He accuses the SEC of being a bully. However, SEC Chair Gary Gensler maintains a tough stance on digital assets, declaring 19 crypto assets as securities in recent lawsuits against Binance and Coinbase. The fear of restrictive regulations has led many US crypto businesses to expand overseas. Garlinghouse criticizes the SEC’s attempt to portray the verdict as a split victory.

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