Ripple Makes New Demands From SEC, What Are They Asking For?

bitcoinistPublicado em 2026-05-29Última atualização em 2026-05-29

Resumo

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.

Crypto firm Ripple has sent a letter to the U.S. Securities and Exchange Commission (SEC) demanding clarity on the treatment of payment stablecoins and tokenized securities. This follows a meeting that the firm held with the Commission’s Crypto Task Force a couple of months ago.

Ripple Requests SEC To Provide Clarity On Stablecoins and Tokenized Securities

In a letter addressed to the SEC’s Crypto Task Force, Ripple requested clarity on stablecoins and tokenized deposits and offered suggestions on how the Commission could proceed. Firstly, the crypto firm cited the need for clarity on the treatment of stablecoins as collateral and suggested that the Commission amend Rule 15c3-1 to clarify how stablecoins can be properly applied on balance sheets.

Furthermore, Ripple demanded clarity on the requirements for custodying clients’ stablecoins and suggested that the SEC amend Rule 15c3-3 to define the category of “Qualified Payment Stablecoins.” The firm also asked the Crypto Task Force to clarify that crypto asset non-securities, aside from Bitcoin and Ethereum, can receive equivalent treatment. Ripple alluded to the SEC’s recent guidance, which classified other major cryptos as commodities alongside BTC and ETH.

To achieve this, Ripple suggested that the SEC revise Question 4 in the FAQ relating to crypto asset activities to account for any non-securities that meet the readily marketable definition. The firm further asked the Commission to provide an analysis that illustrates how a 2% haircut for stablecoins remains punitive. They suggested that stablecoins should have 0% haircut, provided there is a mint-burn relationship between the broker-dealer and issuer.

Lastly, Ripple asked the SEC Crypto Task Force to clarify which registry of ownership, whether off-chain or on-chain, takes precedence to determine ownership and legally enforceable rights. The firm urged the Task Force to designate the on-chain registry as the single authoritative legal register, thereby eliminating the dual-registry ambiguity that arises in digital twin structures.

Ripple mentioned in the letter that the response was a follow-up to their March 20 meeting with the SEC Crypto Task Force. The firm further revealed that they had discussed the treatment of payment stablecoins and tokenized securities under the net capital and consumer protection rules, as well as potential next steps toward broader guidance.

Ripple CEO Says Anti-Crypto Army Has Been Defeated

In an X post, Ripple CEO Brad Garlinghouse said that the anti-crypto army was defeated by the courts, the voters, and U.S. President Donald Trump. He noted how the crypto witch hunt never made “policy, legal, or political sense.” He added that combating financial innovation only helped protect those who wanted to keep the old, often broken, system in place.

Garlinghouse was reacting to a post by President Trump in which he called out former SEC Chair Gary Gensler and the anti-crypto army for nearly destroying the American crypto industry. The president also vowed that his administration will codify the CLARITY Act, which cannot be undone by the “crypto haters.”

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Perguntas relacionadas

QWhat specific clarity did Ripple request from the SEC's Crypto Task Force regarding stablecoins?

ARipple requested clarity on the treatment of stablecoins as collateral, asking the SEC to amend Rule 15c3-1 to clarify how stablecoins can be properly applied on balance sheets. The company also demanded clarity on the requirements for custodying clients' stablecoins and suggested the SEC amend Rule 15c3-3 to define the category of 'Qualified Payment Stablecoins'.

QWhat suggestion did Ripple make regarding the 'haircut' for stablecoins on broker-dealer balance sheets?

ARipple suggested that stablecoins should have a 0% haircut, provided there is a mint-burn relationship between the broker-dealer and the issuer. The company asked the SEC to provide an analysis showing how the current 2% haircut remains punitive.

QWhat did Ripple ask the SEC to clarify about the registry of ownership for digital assets?

ARipple asked the SEC Crypto Task Force to clarify which registry of ownership, whether off-chain or on-chain, takes precedence to determine ownership and legally enforceable rights. The firm urged the Task Force to designate the on-chain registry as the single authoritative legal register to eliminate dual-registry ambiguity.

QAccording to Ripple's CEO Brad Garlinghouse, who or what has defeated the 'anti-crypto army'?

ARipple CEO Brad Garlinghouse stated that the anti-crypto army was defeated by the courts, the voters, and U.S. President Donald Trump.

QWhat legislative action did President Trump vow to take regarding the crypto industry?

APresident Trump vowed that his administration will codify the CLARITY Act, which he stated cannot be undone by 'crypto haters'.

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