XRP Army Rejoices As Ripple CLO Responds to U.S. Senate Banking Committee

Key Points

1. Ripple's CLO, Stuart Alderoty, responded to a Senate Banking Committee RFI, emphasizing the need for a clear regulatory framework for digital assets.

2. Ripple argues that the proposed legislation excessively expands the SEC's authority, potentially subjecting tokens like XRP, ETH, and SOL to indefinite SEC oversight.

3. Ripple proposes that tokens traded for at least five years on open networks should be exempt from securities actions to avoid destabilizing mature markets.

4. The response highlights the importance of legal boundaries to ensure stable and predictable regulations for digital assets like XRP.

5. Ripple's stance is informed by its ongoing legal battle with the SEC and its experience working with regulators globally.