Ripple CEO Brad Garlinghouse accused the US Securities and Exchange Commission (SEC) of “hypocrisy” on Twitter after the agency lost a key court battle against the company.
The SEC had accused Ripple of selling XRP as an unregistered security, but a federal judge ruled on Wednesday that the agency had failed to provide enough evidence to support its case.
In a tweet, Garlinghouse said that the SEC’s lawsuit against Ripple was “a case of regulatory overreach” and that the agency’s actions were “hypocritical.”
“The SEC is suing us for selling XRP as a security, but they allow other companies to do the same thing without any consequences,” Garlinghouse wrote. “This is hypocrisy at its finest.”
Garlinghouse’s tweet was met with support from many in the crypto community, who have long accused the SEC of unfairly targeting Ripple.
“The SEC is a joke,” one Twitter user wrote. “They’re just trying to stifle innovation in the crypto space.”
“The SEC is a corrupt organization,” another user wrote. “They’re only interested in protecting their own interests.”
