Ripple Backs SEC's Crypto Regulation Proposal

What happened: Ripple endorsed the SEC's proposed "Regulation Crypto Assets" in a comment letter sent on October 20, urging the regulator to proceed with the proposal. Key numbers: Comment letter is 20 pages. Proposal would allow qualifying crypto projects to raise up to $5 million over four years, and up to $75 million per year under a second exemption. Why it matters: Ripple's Chief Legal Officer Stuart Alderoty said the SEC has clear authority to adopt the rules, and Ripple argues clear rules are needed instead of case-by-case enforcement, which it says drove innovation abroad. Coverage: 3 outlets in 24h

Ripple endorsed the SEC's proposed "Regulation Crypto Assets" in a comment letter sent on October 20, urging the regulator to proceed with the proposal.

Ripple's Chief Legal Officer Stuart Alderoty said the SEC has clear authority to adopt the rules, and Ripple argues clear rules are needed instead of case-by-case enforcement, which it says drove innovation abroad.