Ripple has submitted a follow-up response to the SEC Crypto Process Pressure in search of clearer remedy for fee stablecoins, crypto asset non-securities and tokenized securities underneath broker-dealer guidelines. The letter, dated Might 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 property.
The doc is addressed to the SEC Crypto Process Pressure on the US Securities and Change Fee and is marked as a follow-up to a previous Ripple assembly with the duty pressure. Based on the letter, Ripple met with the group on March 20, 2026 to debate “the remedy of fee stablecoins and tokenized securities underneath 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 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 Might 22, 2026 👀
Right here’s what they’re demanding:
📌 Stablecoins handled as correct collateral
📌 RLUSD haircut decreased to 0%
📌 XRP & different non-securities get identical remedy as BTC & ETH
📌… https://t.co/9DTmsGUz4f pic.twitter.com/MgERkvxr0O— 𝗕𝗮𝗻𝗸XRP (@BankXRP) Might 27, 2026
What Ripple Is Requesting From The SEC
The primary situation 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 middle of web capital necessities, making the remedy of stablecoin collateral a sensible situation for regulated intermediaries that wish to deal with tokenized devices with out going through 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 known as “Certified Fee Stablecoins.” The framing suggests Ripple is in search of a clearer regulatory field for stablecoins utilized in funds and settlement, somewhat than forcing them into legacy classes that will not replicate how these property operate 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 remedy,” citing the company’s just lately launched steering on the appliance of securities legal guidelines to crypto property. 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 in opposition to a slender regulatory framework during 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 identify XRP immediately in that part, the implication is important for property that issuers, exchanges or broker-dealers could argue are non-securities and sufficiently liquid to be handled equally underneath capital and buyer safety evaluation.
The letter additionally challenges the SEC’s remedy 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 companies working in tokenized settlement, that distinction may 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 situation 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 one 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 remedy as BTC and ETH, and on-chain registries be acknowledged as the one authorized document. “Ripple isn’t asking anymore. They’re telling,” the XRP group account wrote.
At press time, XRP traded at $1.3299.
Featured picture created with DALL.E, chart from TradingView.com
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