The post Ripple Pushes SEC with 3-Step Plan for Clear Crypto Regulations appeared first on Coinpedia Fintech News
Ripple is calling on the SEC to finally bring clarity to crypto regulations. The company argues that unclear rules have caused confusion for years, making it harder for businesses and investors to navigate the industry. This comes after Hester Peirce, head of the SEC’s Crypto Task Force, asked the public for input on how crypto assets should be classified. Her request, titled “There must be some way out of here,” signals an effort to fix the mess left by past SEC leadership.
But Ripple isn’t holding back. The company has strongly criticized the SEC’s previous approach, calling it inconsistent, overly complicated, and legally weak.
Now, Ripple is laying out a clear plan to cut through the confusion – one that could finally bring long-overdue regulatory clarity.
Ripple Criticizes Previous SEC Leadership
In its response, Ripple strongly criticized the SEC’s former chairman, Gary Gensler, arguing that the agency’s past approach to crypto regulation was unclear, overly complicated, and lacked legal support. Ripple suggested that the SEC intentionally created confusion to hide its failure to follow proper legal processes.
To fix this, Ripple outlined three key steps the SEC should take to improve regulatory clarity.
Ripple’s Three-Step Plan for Clearer Regulations
1. Focus on True Securities
Ripple believes the SEC should only regulate assets that legally qualify as securities under federal law. The company argued that many digital assets, especially those that do not generate profit or yield, should not be classified as securities.
2. Enforce Existing Laws Instead of Creating New Ones
Ripple urged the SEC to stick to the laws already in place instead of introducing new rules that could create further confusion. The company stressed that only Congress has the power to make new laws, and the SEC should focus on enforcing existing regulations.
3. Provide Clear Guidelines
Ripple called on the SEC to take a more transparent approach to crypto regulations. It praised the SEC’s decision to clarify that meme coins are not securities, saying such clear guidance helps reduce uncertainty in the market. Ripple is now pushing for similar clarity across the entire crypto industry.
Ripple vs. SEC Lawsuit Nears Its End
Meanwhile, the long-running legal battle between Ripple and the SEC is close to wrapping up. The SEC has dropped its appeal against Ripple, leaving only Ripple’s cross-appeal as the final step. Many legal experts believe Ripple will withdraw its appeal once a favorable agreement with the SEC is reached.
After years of regulatory chaos, the SEC and Ripple might finally be on the same page. The real question is: will crypto finally get the clarity it deserves?
