Ripple Backs SEC Crypto Rules, Seeks Clearer Limits on Token Securities Status

Ripple has backed the U.S. Securities and Exchange Commission’s (SEC) proposed Regulation Crypto Assets, while asking the agency to clarify how securities laws apply to crypto tokens and when an issuer’s legal obligations end. In a comment letter submitted on October 20, Ripple said the SEC has the authority to adopt the proposal and called for a consistent regulatory framework for the digital asset industry. Ripple Chief Legal Officer Stuart Alderoty confirmed the filing and said the company had spent more than $150 million on its legal battle with the regulator. The SEC introduced Regulation Crypto Assets on August 18.