Ripple backs SEC crypto regulation proposal after $150 million XRP court battle

Ripple has publicly supported a new proposal from the US Securities and Exchange Commission (SEC) aimed at clarifying the regulatory framework for cryptocurrencies. Chief Legal Officer Stuart Alderoty revealed that the blockchain payments firm spent more than $150 million on legal fees during its long-running dispute with the regulator over the status of XRP. The SEC introduced Regulation Crypto Assets on August 18, outlining a specialized approach for investment contracts involving digital assets.