Ripple executives have taken aim at U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler, criticizing his regulatory approach and the agency’s persistence in legal battles. Ripple General Counsel Stuart Alderoty addressed the SEC’s appeal, stating:
On January 20, Gensler’s war on crypto ends at the SEC. We asked the SEC to agree to postpone the filing of their opening brief in their appeal of our victory … and they refused. What a waste of time and taxpayer dollars!
“Nevertheless, we are confident in our position on appeal and look forward to working with new SEC leadership to resolve this matter,” he added.
On Wednesday, the SEC filed its opening brief in the appeal against Ripple Labs, reiterating arguments that previously failed to convince the court that XRP should be classified as a security. Alderoty commented after the filing: “As expected, the SEC’s appeal brief is a rehash of already failed arguments –and likely to be abandoned by the next administration He stressed: “A new era of pro-innovation regulation is coming, and Ripple is thriving.”
Ripple CEO Brad Garlinghouse echoed these sentiments, criticizing Gensler’s enforcement-driven approach. He stated:
Gensler, very much on brand — completely dismissive of the 2024 election and the American public — fully commits to his failed ‘regulation-by-enforcement’ agenda to the bitter, bitter end. Sad.
These statements reflect growing dissatisfaction among crypto advocates regarding what they see as an overreliance on enforcement rather than clear regulatory frameworks.
Gensler’s anticipated resignation coinciding with Donald Trump’s inauguration as president on Jan. 20 has fueled speculation about potential shifts in crypto policy. Trump, who has increasingly signaled pro-crypto stances and support for bitcoin, has nominated individuals with pro-crypto views, signaling a leadership shift more favorable to the digital asset industry. Many in the crypto community view this transition as an opportunity for clearer and more constructive regulations, contrasting with Gensler’s contentious tenure. Ripple remains optimistic, emphasizing its readiness to navigate the SEC’s appeal while preparing for a pro-innovation regulatory environment.
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