Ripple submitted its response Friday to the U.S. Securities and Exchange Commission (SEC) Crypto Task Force, urging the agency to shift away from past enforcement-centric strategies and instead adopt clear, legally grounded guidance. The company criticized the SEC’s prior actions for generating uncertainty and misapplying securities law to digital assets. Ripple wrote:

To state it even more plainly, the SEC lacks authority over most digital assets and, in turn, most transactions involving digital assets.

The letter was signed by Stuart Alderoty, Chief Legal Officer; Sameer Dhond, Ripple General Counsel; and Deborah McCrimmon, Deputy General Counsel.

Alderoty reinforced Ripple’s position on social media platform X, stating: “Today, Ripple submitted its response to Commissioner Hester Peirce’s Feb. 21 statement: ‘There must be some way out of here,’ calling for public input on crypto taxonomy rules. That Dylan lyric continues: ‘There’s too much confusion, I can’t get no relief.’ The prior administration thrived on confusion to mask its failure to follow the law. We urge the SEC’s Crypto Task Force to stay focused: return to first principles, stay within its statutory bounds, and finally bring relief through clarity.”

Ripple praised recent SEC staff guidance on meme coins and proof-of-work mining, calling them concise examples of how the agency can provide effective oversight within existing legal frameworks.

The crypto firm also addressed how decentralized finance functions should be viewed under federal securities laws. It argued that staking and yield mechanisms operating on public blockchains are materially different from securities. The letter states:

There is an opportunity for the Commission to confirm now what is clear: arrangements for earning yield directly from the programmatic functioning of a public, permissionless network should not be considered securities.

“Such arrangements do not involve an investment with a definable counterparty, unlike traditional securities, which are premised on a contractual agreement between an investor and an issuer who undertakes managerial efforts to generate profits,” Ripple emphasized. The firm reiterated its support for safe harbor provisions and regulatory sandboxes and noted that its submission follows the SEC’s decision to drop its appeal in the ongoing legal dispute involving Ripple and XRP.

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