This comes after SEC Commissioner Hester Peirce recently called for public input under the initiative titled “There must be some way out of here,” aimed at refining crypto taxonomy rules and ending the confusion bred by past SEC leadership.
In its letter, Ripple criticized the prior leadership under Gary Gensler, stating that the SEC’s crypto guidance has been excessively complicated, inconsistent, and lacking legal backing. The company asserted that the agency’s past approach seemed more focused on creating confusion than offering clarity.
Ripple has proposed three actionable solutions for regulatory reform:
Ripple, one of the most affected by the SEC’s unclear policies, is approaching the end of its legal battle with the agency. With the SEC withdrawing its appeal, experts believe Ripple may soon drop its cross-appeal if a favorable resolution is reached.