Ripple urged the SEC to stop applying outdated rules to crypto assets like XRP.
Ripple pushed for Congress-led regulation and proposed a “maturity” test to assess token status.
Ripple ramped up the pressure against the U.S. Securities and Exchange Commission (SEC), calling for the regulator to end the application of outdated rules to crypto tokens such as XRP. The call followed a letter Ripple filed with the SEC’s Crypto Task Force as a response to Commissioner Hester Peirce’s “New Paradigm” speech, drawing attention to the need for uniform legal perimeters in the digital assets market.
In their letter, the company based in San Francisco made the claim that the majority of fungible crypto assets like XRP do not qualify as security when traded in secondary markets. Ripple is convinced those assets are not tied legally to the definition of security when there is no promise or obligation attached to them from the initial sale.
Ripple pointed specifically to the decision ma
