Ripple has a follow -up letter to SEC Crypto in answer To the speech of the Commissioner Hyster Peres, “The New Form”.
The message focuses on the issue of how the digital assets, which were initially sold as part of an investment contract, can be independent of this contract and are no longer safe.
Ripple supports the opinion that most of the assimilated encryption assets are not securities when they are traded in the secondary market because they lack the legal relationship to safety.
The San Francisco -based company was killed, Judge Torres, 2023, in the SEC V case. Ripple, which decided that XRP itself is not safe. However, some institutional sales were classified as securities.
Ripple in congressmen urges the remaining legal gaps.
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They criticize the previous dependence on SEC on mysterious standards, and they call for clear guidelines based on the current law.
The digital asset must be considered separate from the investment contract unless the material promise that was submitted during the original investment contract remains unimaginable or that the current bearer has rights that can be implemented against the source based on this promise.
Just delivery of a distinctive symbol or general data should not be qualified for such promises, according to Ripple.
The company also supports a safe port for good intentions, but it emphasizes that it should not mean that digital asset transactions are subject to securities laws.
Ripple also suggested a “merit” test as a clearer criterion to determine when the original is no longer part of an investment contract, using the standards of market value threshold and the time period during which the network remains open and lack of permission. Moreover, no one -sided control party does not have to have the main function of the network.
