TLDR Ripple urged the SEC to treat XRP the same as Bitcoin and Ethereum under capital rules. Ripple proposed a shift toward function-based regulation instead of legacy asset classifications.
Ripple has intensified its engagement with the U.S. regulator to reshape digital asset rules. The company submitted a policy letter urging equal treatment for XRP alongside Bitcoin and Ethereum. The proposal focuses on capital requirements, stablecoins, and tokenized securities frameworks.
The submission follows a March 20 meeting with the SEC Crypto Task Force. Ripple outlined how current rules affect institutional use of digital assets. The company now seeks clearer and function-based regulatory treatment.
Ripple told the U.S. Securities and Exchange Commission that digital assets should be classified by function. The firm said legacy labels create inconsistencies across similar assets.
JUST IN: Ripple officially submitted a follow-up letter to the SEC Crypto Task Force on May 22, 2026
Here's what they're demanding:
Stablecoins treated as proper collateral
โ ๐๐ฎ๐ป๐ธXRP (@BankXRP) May 27, 2026
The company argued that assets used for settlement should receive similar regulatory treatment. It cited XRP, Bitcoin, and Ethereum as examples. Ripple stated that inconsistent capital treatment distorts liquidity allocation. It added that institutions face friction when similar assets receive different regulatory outcomes.
The firm also addressed broker-dealers and custodians in its letter. It said regulatory clarity would support broader institutional participation in tokenized markets. Ripple said the proposal aims to align rules with real market use. It added that current frameworks do not reflect how digital assets function in settlement.
Ripple proposed treating fully backed stablecoins as cash-equivalent instruments. It highlighted RLUSD as an example under a verifiable mint-and-burn model.
The company said such assets should qualify as high-quality collateral. It argued they should carry a 0% haircut under capital adequacy rules.
Ripple stated that current capital charges limit stablecoin adoption in regulated markets. It added that removing these barriers would support institutional usage.
The letter also proposed an on-chain registry for tokenized securities. Ripple said blockchain records could replace fragmented off-chain systems. The firm explained that a unified ledger would improve transparency and efficiency. It added that ownership tracking and settlement could become more streamlined.
Ripple emphasized that tokenization requires updated infrastructure. It said existing systems were not designed for digital asset workflows. The proposal forms part of ongoing discussions with the SEC task force. Ripple confirmed it submitted the follow-up letter on May 22, 2026.
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