Ripple has intensified its call for clearer and more consistent cryptocurrency regulations, criticizing the SEC’s previous approach and outlining a three-step plan to fix the regulatory confusion that has plagued the crypto industry. With the legal battle between Ripple and the SEC nearing its resolution, the need for defined regulations has never been more urgent.

Ripple Criticizes the SEC’s Past Leadership

Ripple has been vocal about its dissatisfaction with the SEC’s leadership under former Chairman Gary Gensler. The company argues that the SEC’s previous stance on crypto regulation has been unclear, overly complicated, and legally unsupported. Ripple suggests that the SEC’s inconsistent actions contributed to confusion, harming both businesses and investors. According to Ripple, the regulatory approach failed to properly distinguish between assets that should be classified as securities and those that shouldn’t, leading to a lack of confidence in the market.

Ripple’s 3-Step Plan for Clarity

In response to these ongoing issues, Ripple has presented a clear, three-step plan that it believes will bring the clarity that the crypto market desperately needs:

1. Focus on True Securities Ripple insists that the SEC should only regulate assets that legally qualify as securities under existing federal law. The company points out that many digital assets do not fit this definition, particularly those that do not generate profit or yield. Ripple argues that these assets should not be classified as securities, and their regulation should remain outside the SEC’s jurisdiction.

2. Enforce Existing Laws Instead of Creating New Ones Ripple urges the SEC to stop trying to create new, complex rules for crypto regulation. The company stresses that only Congress has the authority to create new laws, and the SEC should focus on enforcing the laws that are already in place. Ripple believes that sticking to existing laws will reduce the potential for confusion and ensure a more stable regulatory environment for the crypto industry.

3. Provide Clear Guidelines Ripple is calling for more transparent guidance from the SEC on how various cryptocurrencies should be classified. It welcomed the SEC’s clarification that meme coins are not securities and advocates for similar clarity across the rest of the crypto industry. Ripple believes that clear, straightforward guidelines will help reduce uncertainty and enable businesses and investors to make more informed decisions.

Ripple’s Legal Battle with the SEC Nears its End

The long-running legal battle between Ripple and the SEC is approaching its conclusion, with the SEC having recently dropped its appeal. Ripple’s cross-appeal remains the last major hurdle, but many legal experts believe that Ripple will withdraw its appeal once a favorable resolution is reached. The SEC’s decision to drop its appeal suggests that a settlement could be on the horizon, which could pave the way for clearer regulations in the future.

With the lawsuit nearing its end, the hope is that the crypto industry will finally receive the regulatory clarity it needs. If Ripple’s plan is adopted, it could bring much-needed stability to the market, creating a framework that benefits businesses, investors, and regulators alike. The big question remains: Will the SEC act swiftly to implement these changes, or will the uncertainty continue to linger?