During a recent event in Las Vegas, Ripple CEO, Brad Garlinghouse, expressed his strong views on how cryptocurrencies should be classified. Garlinghouse firmly stated that both Ethereum and XRP should not be categorized as securities, directly challenging the SEC’s current classification. The SEC typically views most cryptocurrencies, excluding Bitcoin, as securities that must be registered. While Ethereum has seen a more relaxed approach from the SEC in the past, recent changes suggest a shift in this position.

Garlinghouse’s Critique of SEC Chairman

In addition to disputing the SEC’s stance on cryptocurrencies, Garlinghouse went a step further by criticizing the chairman of the SEC, Gary Gensler, labeling his behavior as ‘unethical’. This statement reveals the existing tensions between the two parties over the classification of digital assets.