Ripple CLO Has An Update for XRP Army
Photo: Times Tabloid
Ripple filed its formal comment letter with the SEC on October 20. The company responded to the agency’s proposed Regulation Crypto Assets and urged the Commission to adopt it as a final rule. Chief Legal Officer Stuart Alderoty published a summary of the letter, stating the SEC has ample statutory authority to act and that the proposal stays faithful to existing securities law. The letter argues the proposal rests on three principles rooted in the 1946 Howey decision. The investment contract is the security, not the token. Promises made by issuers can end.
Source: Times Tabloid
