Ripple Submits Comment Letter on SEC's Crypto Asset Regulation Proposal, Expressing Support

On October 21, Ripple Chief Legal Officer Stuart Alderoty posted on X that Ripple has submitted a comment letter on the U.S. SEC's proposed crypto asset regulation rules (Regulation Crypto Assets), expressing support for the proposal and stating that the SEC has clear authority to adopt the rules. Alderoty said that years of "case-by-case, coin-by-coin" enforcement has pushed innovation overseas, and the industry needs holistic rules for digital assets; the proposal is faithful to the Howey test, and what constitutes a security is the investment contract rather than the token itself. He also said Ripple has spent more than $150 million to clarify the relevant rules.