Ripple, that mischievous company with a penchant for legal games, has sent a letter to the US Securities and Exchange Commission’s Crypto Task Force, demanding they rewrite the rules so XRP can escape the SEC’s clutches like a sneaky squirrel fleeing a nut-hoarding squirrel. 🦔
In a 9 January letter, Ripple argued that crypto regulation should follow “the lifespan of the obligation” – which, in simpler terms, means “please stop treating XRP like a never-ending party invite.” 🎉
Meanwhile, Congress is busy crafting new laws, and the SEC, led by the overly serious Paul Atkins, is trying to figure out how to regulate crypto without accidentally inventing a new type of magic. 🧙♂️
The Legal Framework Ripple is Pushing
Ripple’s plan is as clear as a foggy morning in a fairy tale: distinguish between a securities transaction and the token that later dances in the market. 🕺
They claim that securities law should only apply when there’s a direct legal relationship – like a handshake between the issuer and buyer. Once that handshake is over, the token should be free to roam! 🦋
Ripple warns that treating every sale as a permanent capital raise is like giving a vampire a lifetime pass to your blood bank. 🧛♂️
In mature markets, they argue, crypto should be treated like a commodity – because buyers care more about liquidity than promises made by a long-dead founder. 📈
Why This Matters for XRP
Ripple’s battle with the SEC is like a showdown between a dragon and a very confused knight. 🐉
The SEC’s original lawsuit was based on the idea that XRP was an “investment contract” – a fancy way of saying “Ripple’s got a secret plan.” 🤫
Now, Ripple is saying, “What if XRP was once a security, but now it’s just a token? Let it be free!” 🕊️
This would turn Ripple’s courtroom defense into federal policy – a move as bold as a chicken wearing a crown. 🦃👑
Why the Timing Matters
The US crypto world is changing faster than a chameleon in a disco. Congress has passed laws, and the SEC is trying to catch up while juggling flaming torches. 🔥
Ripple is like a ninja, slipping into the new framework before the rules are even written. 🥋
Final Thoughts
- Ripple’s grand scheme: Let XRP fly free, like a bird with a PhD in loopholes! 🦜🎓
- SEC’s face: A mix of confusion and existential dread. 😱
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2026-01-12 22:18