The digital currency market is under significant pressure from regulatory bodies in the United States, as these bodies seek to determine whether some digital currencies are considered securities or not. This has led to a wave of criticism and controversy among traders and stakeholders in this market.

In this regard, the CEO of Ripple, Brad Garlinghouse, tweeted his criticism of the Chairman of the SEC, Gary Gensler, for his determination of whether Ripple’s currency (XRP) is considered a security or not.

Garlinghouse’s criticism comes after the SEC filed a lawsuit against Ripple in December 2020, accusing the company of not properly registering XRP as a security, which Ripple vehemently denied.

Garlinghouse stated in his tweet, “Mr. Chairman, your team needs to get serious about issuing new guidance to determine whether a digital asset is a security or not. Why are you picking winners and losers? The market is looking for clarity on rules and guidance.”

Thus, Garlinghouse confirms that the market needs clear and consistent guidance from regulatory bodies to determine whether digital currencies are considered securities or not, as this determination greatly affects the future of this market and its investments. Garlinghouse also emphasizes that such determinations should be made with responsibility and fairness, without favoring one party over another.

This topic is one of the sensitive and controversial issues in the digital currency market, with different and conflicting views on it. It is important for regulatory bodies to establish clear rules and guidance to determine whether digital currencies are considered securities or not, in order to maintain the safety and stability of this market.