Ripple Seeks Clarity on Stablecoin and Tokenization Rules

Ripple has submitted a letter to the SEC's Crypto Task Force, outlining its proposals for clarifying rules surrounding stablecoins and tokenized securities.

The company has requested updates to broker-dealer capital rules for payment stablecoins, specifically Rule 15c3-1, which governs net capital requirements for broker-dealers. Ripple argues that the current treatment of stablecoins used as collateral on balance sheets is unclear and needs clarification.

Ripple also seeks to define qualified payment stablecoins under Rule 15c3-3, which covers customer protection and custody duties. The company wants to ensure that firms can custody client stablecoins without unclear compliance exposure.

The letter highlights the need for clearer rules surrounding non-securities, particularly assets beyond Bitcoin and Ethereum that meet marketability standards. Ripple emphasizes that these assets deserve clear treatment in SEC staff guidance and broker-dealer rules.