Ripple, a cryptocurrency company, has asked the U.S. Securities and Exchange Commission (SEC) for clear rules regarding stablecoins and tokenized securities. This request comes after Ripple met with the SEC’s Crypto Task Force a few months ago.
Ripple Requests SEC To Provide Clarity On Stablecoins and Tokenized Securities
Ripple recently sent a letter to the SEC’s Crypto Task Force, asking for clearer rules about stablecoins and tokenized deposits. They also offered some ideas for how the SEC should move forward. Specifically, Ripple believes the SEC needs to clarify how stablecoins should be treated when used as collateral and suggested changes to Rule 15c3-1 to explain how they can be correctly accounted for on company balance sheets.
Ripple has requested more specific rules about how to securely hold customers’ stablecoins. They also proposed that the SEC update its rules to clearly define what qualifies as a “Qualified Payment Stablecoin.” In addition, Ripple asked the Crypto Task Force to confirm that cryptocurrencies that aren’t considered securities – beyond just Bitcoin and Ethereum – should be treated the same way as those two. This request follows the SEC’s recent statement that several other large cryptocurrencies are similar to Bitcoin and Ethereum as commodities.
Ripple has asked the SEC to update its guidance on crypto assets. Specifically, they want Question 4 in the frequently asked questions to clarify that not all crypto assets are securities. They also argue that the current 2% fee (or “haircut”) on stablecoins is too high and should be removed if the broker-dealer and issuer have a direct mint-burn relationship, meaning for every stablecoin created, one is destroyed.
Finally, Ripple requested that the SEC’s Crypto Task Force clarify how ownership is determined – specifically, whether to prioritize records kept off the blockchain or on the blockchain. Ripple argued that the blockchain should be considered the definitive legal record of ownership, which would resolve confusion caused by having two different systems track ownership, as sometimes happens with digital assets.
In a letter, Ripple explained that this response followed up on their March 20th meeting with the SEC’s Crypto Task Force. They shared that they discussed how payment stablecoins and tokenized securities should be handled under existing rules for capital reserves and consumer protection, and what steps could be taken to create clearer regulations in the future.
Ripple CEO Says Anti-Crypto Army Has Been Defeated
Ripple CEO Brad Garlinghouse celebrated a recent victory for cryptocurrency in a post on X (formerly Twitter). He stated that efforts to stifle crypto have been unsuccessful, citing court rulings, public opinion, and support from former U.S. President Donald Trump. Garlinghouse argued that the attempts to regulate crypto were never logical from a legal, political, or policy standpoint, and that resisting financial innovation ultimately benefits those invested in maintaining the status quo.
Brad Garlinghouse responded to a statement made by former President Trump, who criticized Gary Gensler, the former SEC Chair, and others he labeled as being against crypto. Trump claimed these individuals almost ruined the American crypto industry and promised that his future administration would permanently establish the CLARITY Act, protecting it from those he considers hostile to cryptocurrency.
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2026-05-29 17:42