Ripple’s CEO, Brad Garlinghouse, has criticized the U.S. Securities and Exchange Commission (SEC) after the regulator announced its plan to appeal a recent court ruling regarding XRP sales. The ruling had declared that XRP sales to retail traders were not considered securities, but the SEC’s move for a review has raised concerns of prolonged legal battles. Garlinghouse accused the SEC of claiming jurisdiction over the crypto space without legal grounds and emphasized the need for legislative clarity and clear rules to protect retail investors. Many industry experts and lawmakers share this sentiment, believing that the SEC is overreaching its regulatory authority. The ongoing regulatory uncertainty has impacted the price stability of the Ripple token (XRP), which initially experienced a surge in value but has since retreated. The article advises readers to be cautious and seek expert advice before investing in cryptocurrencies.
AI Sentiment: Negative
