ICYMI: Ripple CEO Brad Garlinghouse leveled criticism at the SEC's overreach in regulating crypto industry XRP XRPArmy XRPcommunity
In his subsequent tweet, Garlinghouse commended congressional members like Ritchie Torres and Patrick McHenry for championing this perspective.
The SEC's appeal stems from a disagreement with Judge Torres' decision, asserting that her ruling"adds baseless requirements" to the test of when an asset is a security. They argue that her stance conflicts with the fundamental principle of federal investor protection law, which necessitates more protection for retail investors than for institutional ones.
The SEC maintained that Torres' reasoning was"impossible to reconcile" with these securities law principles, paving the way for the ongoing legal conflict.
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