Ripple Makes New Demands From SEC, What Are They Asking For?
Ripple has sent a letter to the U.S. SEC's Crypto Task Force requesting regulatory clarity on payment stablecoins and tokenized securities. This follows up on a meeting held in March. Key demands include clarification on how stablecoins should be treated as collateral on balance sheets under amended Rule 15c3-1, and defining "Qualified Payment Stablecoins" for custody under Rule 15c3-3. Ripple also asked for confirmation that other major crypto non-securities, beyond Bitcoin and Ethereum, receive equivalent regulatory treatment, suggesting a revision to related SEC FAQs. Furthermore, the firm proposed a 0% haircut for stablecoins under certain conditions and requested that on-chain registries be designated as the single authoritative legal record for ownership, eliminating ambiguity in digital twin structures.
In a separate reaction, Ripple CEO Brad Garlinghouse declared the "anti-crypto army" defeated, citing support from courts, voters, and former U.S. President Donald Trump, who criticized former SEC Chair Gary Gensler and vowed to codify pro-crypto legislation.
bitcoinist05/29 17:32