Ripple has submitted a letter to the US Securities and Exchange Commission’s (SEC) Crypto Task Force. The crypto giant urges clear guidelines or amendments to stablecoins, crypto asset non-security status, and tokenized securities rules. This marks a significant push for regulatory clarity for the crypto industry.
Ripple Submits 5 Proposals to US SEC on Stablecoins, Crypto Non-Securities, Tokenization
Ripple shared the company’s rationale and suggestions regarding payment stablecoins and tokenized securities guidance, according to a letter to the SEC Crypto Task Force. The letter is a follow-up to the crypto company’s meeting with Commissioner Hester Peirce and members of the Task Force.
Ripple requested the SEC to amend Rule 15c3‑1 to clarify how stablecoins can be properly applied on balance sheets when treating them as collateral. Also, it wants to amend Rule 15c3‑3 to define “qualified payment stablecoins” when custodying clients’ stablecoins.
The company seeks further clarity that crypto asset non-securities aside from BTC and ETH can receive equivalent treatment. Notably, the SEC and CFTC classified many crypto assets as non-securities.
“Revise Question 4 in the FAQ Relating to Crypto Asset Activities to account for any non-securities that meet the readily marketable definition,” Ripple added.
In addition, Ripple argued for a 0% haircut on stablecoins, claiming a 2% haircut is punitive. However, it asserts that stabecoins with a mint-burn relationship between the broker-dealer and the issuer should be only eligible for a 0% haircut.
Ripple also recommended that the SEC designate an on-chain registry as the authoritative legal record for the direct issuance of tokenized securities. It will be maintained by a regulated digital transfer agent. This will likely help resolve dual‑registry ownership ambiguities under stress, Ripple added.
Rising Regulatory Clarity in the US
The U.S. crypto regulatory environment has improved significantly in recent months. The SEC and CFTC issued guidance and grouped crypto assets into five categories, namely digital commodities, digital collectibles, digital tools, stablecoins, and digital securities.
Major tokens, including XRP, are now viewed primarily as non-securities. This has reduced regulatory burden for companies such as Ripple. While stablecoin regulation also advanced, SEC guidance around capital treatment, custody, and integration with traditional finance remains unclear.
Ripple is among the crypto firms leading RWA tokenization, bridging TradFi and DeFi, and reforming cross-border payments via RLUSD stablecoins and XRP.
Moreover, the company played a key role in pushing forward the CLARITY Act. The SEC Task Force is working with crypto firms to provide crypto regulatory clarity and shape the future of digital finance.
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