[Ripple Submits Comment Letter on SEC Crypto Asset Rule Proposal, Expresses Support] Ripple's Chief Legal Officer Stuart Alderoty posted on the X platform stating that Ripple has submitted a comment letter regarding the U.S. SEC's proposed crypto asset regulatory rule (Regulation Crypto Assets), expressing support for the proposal and asserting that the SEC has clear authority to adopt the rule. Alderoty noted that the years-long 'case-by-case, token-by-token' enforcement approach has driven innovation overseas, and the industry needs comprehensive rules for digital assets. He emphasized that the proposal adheres faithfully to the Howey Test, asserting that what constitutes a security is the investment contract, not the token itself. He also mentioned that Ripple has spent over $150 million to clarify related regulations.