Ripple Urges SEC to End “Case-by-Case” Crypto Enforcement, Citing $150M XRP Legal Fight

Ripple submitted a comment letter on Wednesday supporting the U.S. Securities and Exchange Commission’s proposed Regulation Crypto Assets framework and urging clear digital-asset rules instead of case-by-case enforcement. Chief Legal Officer Stuart Alderoty announced the filing, which says the SEC can set requirements under existing securities law without waiting for Congress. Ripple cited its SEC dispute, begun in December 2020 over XRP sales and settled in 2025; a July 2023 court found programmatic retail exchange sales were not investment contracts in the circumstances examined, while certain institutional sales violated registration rules. Ripple said legal costs exceeded $150 million. Proposed in August, the framework would create tailored exemptions and a conditional safe harbor for qualifying crypto assets.