Ripple has submitted a follow-up response to the SEC Crypto Process Pressure searching for clearer remedy for cost 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 remedy, 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. Based on the letter, Ripple met with the group on March 20, 2026 to debate “the remedy of cost stablecoins and tokenized securities below the online capital and buyer safety guidelines, and potential subsequent steps for broader steering.”
“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 solutions for the Process Pressure to supply 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 remedy as BTC & ETH
📌… https://t.co/9DTmsGUz4f pic.twitter.com/MgERkvxr0O— 𝗕𝗮𝗻𝗸XRP (@BankXRP) Could 27, 2026
What Ripple Is Requesting From The SEC
The primary subject raised is the remedy of stablecoins as collateral. Ripple’s letter requires Rule 15c3-1 to be amended to make clear how stablecoins may be utilized on broker-dealer stability sheets. That rule sits on the heart of web capital necessities, making the remedy of stablecoin collateral a sensible subject for regulated intermediaries that need to deal with tokenized devices with out dealing with capital remedy 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 searching for a clearer regulatory field for stablecoins utilized in funds and settlement, slightly than forcing them into legacy classes that will not replicate 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 apart from BTC and ETH can obtain equal remedy,” citing the company’s just lately launched steering on the appliance of securities legal guidelines to crypto belongings. Ripple particularly proposes revising Query 4 within the SEC’s FAQ regarding crypto asset actions to account for any non-securities that meet the “readily marketable” definition.
That language issues as a result of it pushes towards a slender regulatory framework by which solely BTC and ETH are handled as clearly eligible for sure types of favorable or workable remedy. 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 could argue are non-securities and sufficiently liquid to be handled equally below capital and buyer safety evaluation.
The letter additionally challenges the SEC’s remedy of stablecoin haircuts. Ripple says it’s offering evaluation exhibiting {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 companies 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 price that limits adoption.
The ultimate subject 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 eradicate “dual-registry ambiguity” in digital twin buildings.
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 remedy 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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