In a video shared on Twitter, Ripple’s CEO Brad Garlinghouse stated that the U.S. financial watchdog’s conduct has been nothing short of “blatant bad faith.“

Brad Garlinghouse, CEO of Ripple, has issued a stark reminder that as Ripple’s legal tussle with the U.S. Securities and Exchange Commission (SEC) inches toward conclusion, it merely marks the commencement of a broader crusade for the industry. The quest for regulatory clarity, he asserts, “must persist.“

Following the public release of the Hinman Documents on June 13, part of the ongoing litigation between Ripple and the SEC, Garlinghouse took to Twitter. In a video, he delved into the lawsuit’s timeline and expressed his vexation with the agency.

In the video dated June 17, Garlinghouse argues that the Hinman documents imply that the SEC has “deliberately muddied the rules, and exploited this confusion through enforcement.”

Garlinghouse doesn’t hold back in his critique of the SEC’s behavior, labeling their actions as a blatant example of “bad faith, as straightforward as it gets.“

He maintains that this approach was evident from the onset of the lawsuit against Ripple, initiated in December 2020. He termed the timing, mere “days before Christmas,“ as exuding a “distinctly Grinch-like vibe.“

“This epitomizes prioritizing politics over people […] and the pursuit of power trumps the implementation of sound policy,” he emphasized.

Garlinghouse disclosed that he responded to “every query [the SEC] presented” prior to the lawsuit, and was never given any indication that XRP was considered a security.

He argues that the SEC’s actions are part of an attempt to “strangle” innovation and the cryptocurrency sector in the U.S., asserting that the Hinman speech isn’t just about “any one token or any one blockchain.” It reflects the SEC’s overarching approach to the crypto industry.

“This is indicative of the SEC’s persistent enforcement action against crypto players, while feigning welcoming gestures and encouraging registration, all while deceiving the community with their so-called guidance.”

Garlinghouse further elaborated that “at best,” the documents hint that SEC senior officials “were at odds” over the law and conveyed to Bill Hinman that “he would only amplify the public’s confusion about crypto regulations.”

On June 13, Cointelegraph reported that the disclosed documents indicated concerns that Hinman’s public declaration that Ether is not a security could potentially “hamper the agency’s ability to adopt a contrary stance on Ether in the future.”

Nevertheless, Garlinghouse pointed out that “at worst,” the documents exposed Hinman’s intentional “disregard for the law” and his attempts to “enact new laws.“

He stressed that the industry must join forces as the SEC might take action against more crypto companies down the line.

“As our lawsuit draws to a conclusion, for many others, it’s just the beginning. Thus, the battle for clarity must persist,” he concluded.

This statement follows the lawsuit the SEC initiated against crypto exchange Binance on June 5, alleging it offered unregistered securities. A day later, the regulatory body took similar action against Coinbase.