Ripple Backs SEC’s Proposed Crypto Regulation, Calls for End to Case-by-Case Enforcement

Ripple filed a comment letter with the SEC supporting its proposed Regulation Crypto Assets and urging the agency to finalize the rule. The proposal’s core approach treats an investment contract, not the token, as the security; Ripple chief legal officer Stuart Alderoty said this follows the 1946 Howey case. Ripple backed Rule 400, a safe harbor letting issuers file a public Form TR to certify promised work is finished or abandoned, and opposed limiting it to issuers that fulfilled their promises. The letter also cited the failed 49-50 Senate vote on September 15 over the Digital Asset Market Clarity Act and Ripple’s 2020 SEC lawsuit over XRP, which it said cost more than $150 million to obtain clarity.