TLDR
- Ripple asked regulators to clarify how payment stablecoins count as broker-dealer collateral on balance sheets.
- The letter also sought a defined custody category for qualified payment stablecoins held for clients.
- Ripple asked the SEC to treat eligible non-security crypto assets like Bitcoin and Ether fairly.
- Ripple said stablecoins with direct mint-burn links should receive no capital haircut from broker-dealers entirely.
- The company proposed on-chain records as the legal source for tokenized ownership records in disputes.
Ripple has sent a follow-up response to the SEC Crypto Task Force, according to a letter dated May 22, 2026. The response focuses on payment stablecoins, custody rules, asset treatment, and tokenized records.
The company said it met the task force on March 20, 2026. Ripple said the meeting covered broker-dealer rules and possible steps for wider SEC guidance.
Ripple Seeks Clear Stablecoin Balance Sheet Rules
Ripple asked the SEC to amend Rule 15c3-1 for payment stablecoins. The company said the rule should explain how stablecoins can be used as collateral.
The request focuses on broker-dealer balance sheets. Ripple said stablecoins need clear treatment when firms hold them or use them in regulated activity.
The letter said the SEC should address “how stablecoins can be properly applied on balance sheets.” That point remains central to Ripple’s request.
Ripple also challenged the current 2% haircut for stablecoins. It said stablecoins should receive a 0% haircut when a mint-burn link exists.
Custody Rules and Non-Security Assets Draw Attention
Ripple also asked the SEC to amend Rule 15c3-3. The company wants a defined category called “Qualified Payment Stablecoins” for client custody.
The request aims to clarify how firms should hold client stablecoins. It also seeks cleaner rules for broker-dealers working with payment tokens.
In addition, Ripple asked the SEC to treat eligible non-security crypto assets more evenly. The letter said assets outside Bitcoin and Ether may also qualify for similar treatment.
Ripple asked the SEC to revise its FAQ on crypto asset activity. The company said eligible assets should be assessed under the “readily marketable” standard.
Ripple Calls for On-Chain Records as Legal Source
Ripple also raised questions about tokenized securities and ownership records. The company said dual records can create confusion between on-chain and off-chain systems.
The letter asked regulators to name the on-chain registry as the legal record. Ripple said this could reduce disputes in tokenized ownership systems.
The filing comes as crypto market structure talks continue in Washington. The supplied text also says the CLARITY Act cleared a Senate vote by 15-9.
Meanwhile, reports tied to the same market discussion mention stablecoins, tokenization, and custody. Ripple’s follow-up centers on clearer SEC rules for regulated crypto activity.
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