Ripple has submitted a follow-up response to the SEC Crypto Process Pressure in search of clearer therapy for fee stablecoins, crypto asset non-securities and tokenized securities below broker-dealer guidelines. The letter, dated Could 22, 2026 and shared by BankXRP on X, factors to a broader push for regulatory readability round collateral therapy, custody necessities and whether or not on-chain information can function the authoritative authorized registry for tokenized belongings.
The doc is addressed to the SEC Crypto Process Pressure on the US Securities and Alternate Fee and is marked as a follow-up to a previous Ripple assembly with the duty drive. In keeping with the letter, Ripple met with the group on March 20, 2026 to debate “the therapy of fee stablecoins and tokenized securities below the online capital and buyer safety guidelines, and potential subsequent steps for broader steerage.”
“We’re submitting this response as a follow-up to a number of questions raised in our assembly,” Ripple wrote within the seen portion of the letter. “The enclosed sections define our rationale and strategies for the Process Pressure to offer readability to the problems at hand. The response addresses the next:”
JUST IN: Ripple formally submitted a follow-up letter to the SEC Crypto Process Pressure on Could 22, 2026
Right here’s what they’re demanding:
Stablecoins handled as correct collateral
RLUSD haircut diminished to 0%
XRP & different non-securities get identical therapy as BTC & ETH
… https://t.co/9DTmsGUz4f pic.twitter.com/MgERkvxr0O— 𝗕𝗮𝗻𝗸XRP (@BankXRP) May 27, 2026
What Ripple Is Requesting From The SEC
The primary problem raised is the therapy of stablecoins as collateral. Ripple’s letter requires Rule 15c3-1 to be amended to make clear how stablecoins could be utilized on broker-dealer stability sheets. That rule sits on the heart of web capital necessities, making the therapy of stablecoin collateral a sensible problem for regulated intermediaries that wish to deal with tokenized devices with out dealing with capital therapy that makes the exercise uneconomic.
Ripple additionally asks the SEC to make clear necessities for custodying shoppers’ stablecoins. The corporate proposes amending Rule 15c3-3, the shopper safety rule, to outline a brand new class referred to as “Certified Cost Stablecoins.” The framing suggests Ripple is in search of a clearer regulatory field for stablecoins utilized in funds and settlement, slightly than forcing them into legacy classes that will not mirror how these belongings perform in crypto market construction.
One other main level considerations crypto asset non-securities past Bitcoin and Ethereum. The letter asks the SEC to make clear that “crypto asset non-securities except for BTC and ETH can obtain equal therapy,” citing the company’s just lately launched steerage on the applying of securities legal guidelines to crypto belongings. Ripple particularly proposes revising Query 4 within the SEC’s FAQ referring to crypto asset actions to account for any non-securities that meet the “readily marketable” definition.
That language issues as a result of it pushes in opposition to a slender regulatory framework by which solely BTC and ETH are handled as clearly eligible for sure types of favorable or workable therapy. Whereas the seen web page doesn’t title XRP instantly in that part, the implication is important for belongings that issuers, exchanges or broker-dealers might argue are non-securities and sufficiently liquid to be handled equally below capital and buyer safety evaluation.
The letter additionally challenges the SEC’s therapy of stablecoin haircuts. Ripple says it’s offering evaluation displaying {that a} 2% haircut for stablecoins “stays punitive,” and argues that “Stablecoins ought to have a 0% haircut” when there’s a mint-burn relationship between the broker-dealer and issuer. For corporations working in tokenized settlement, that distinction might have an effect on whether or not stablecoins are usable at scale as collateral or handled as carrying a capital value that limits adoption.
The ultimate problem listed within the letter goes to tokenized asset possession. Ripple asks the SEC to make clear whether or not an off-chain or on-chain registry takes priority in figuring out possession and legally enforceable rights. Its proposed reply is direct: “Designate the on-chain registry as the only authoritative authorized register,” which Ripple says would remove “dual-registry ambiguity” in digital twin constructions.
BankXRP framed the submission extra aggressively, saying Ripple was demanding stablecoins be handled as correct collateral, RLUSD obtain a 0% haircut, XRP and different non-securities get the identical therapy as BTC and ETH, and on-chain registries be acknowledged as the one authorized report. “Ripple isn’t asking anymore. They’re telling,” the XRP neighborhood account wrote.
At press time, XRP traded at $1.3299.
Featured picture created with DALL.E, chart from TradingView.com
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