Ripple's Legal Battle with SEC Costs $200 Million and Continues Amidst Rumors and Evidence Exclusion.

Ripple CEO Brad Garlinghouse revealed that the company will have spent $200 million defending itself against the SEC lawsuit accusing Ripple, Garlinghouse, and co-founder Chris Larsen of breaching U.S. securities laws by selling XRP without registering it with the regulator. Ripple maintains that XRP should be considered a digital currency rather than a security. The SEC has also pursued enforcement action against other crypto companies, including Kraken and Coinbase. Garlinghouse criticized the SEC's actions, accusing Chairman Gary Gensler of putting power ahead of sound policy to grow the U.S. economy.