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Ripple Seeks SEC Clarity on Stablecoins and Tokenized Securities Amid Regulatory Ambiguity

Crypto firm Ripple has officially requested the U.S. Securities and Exchange Commission (SEC) to provide guidance on the treatment of payment stablecoins and tokenized securities.

This letter follows a meeting with the SEC’s Crypto Task Force, where Ripple expressed concerns about the current regulatory landscape.

Among its key demands, Ripple called for clarification on how stablecoins can be listed as collateral, suggesting changes to Rule 15c3-1 to aid proper balance sheet representation.

The firm also sought guidance on the custody requirements for clients' stablecoins, proposing that the SEC amend Rule 15c3-3 to define "Qualified Payment Stablecoins."

Additionally, Ripple urged the SEC to treat certain non-security crypto assets, beyond Bitcoin and Ethereum, similarly to commodities.

They requested a revision of the FAQ's Question 4 to enhance clarity regarding non-securities meeting the readily marketable definition.

Ripple critiqued the SEC's 2% haircut for stablecoins, advocating for a 0% haircut if a mint-burn relationship exists between brokers and issuers.

The letter concluded with a call for the SEC to establish a definitive on-chain registry for ownership to mitigate dual-registry confusion.

These requests represent Ripple's ongoing efforts to clarify an increasingly complex regulatory environment following its discussions with the SEC.

CEO Brad Garlinghouse emphasized the importance of regulatory clarity in his recent statements, asserting that outdated systems should not hinder financial innovation.