• Ripple warns the Senate’s crypto bill could trap digital assets as securities indefinitely.
• The company is pushing for a 5-year “safe harbor” rule to let tokens become commodities.
• Clear federal crypto rules are seen as key to attracting major investment to the US.

Ripple Labs’ Chief Legal Officer, Stuart Alderoty, has submitted a formal response to the U.S. Senate Committee on Banking, Housing, and Urban Affairs regarding its proposed digital asset market structure. 

This comes as the committee, led by Chairman Tim Scott, works to establish a clear regulatory framework, a key part of President Donald Trump’s agenda for digital assets.

The Senate committee specifically sought feedback from Ripple, leaning on the company’s hard-won legal expertise from its battle with the SEC. The committee’s main goal is to finally set clear rules, especially on the crucial difference between a security and a digital commodity.

Related: “Procrustean Bed” No More: SEC to Adopt Flexible Rules for Crypto, Says Atkins

Ripple’s Warning: A Flawed Definition

According to Alderoty, the draft legislation actually creates more legal confusion than it solves. He argue…

The post Ripple CLO to Congress: Don’t Classify All Crypto as Securities Indefinitely appeared first on Coin Edition.

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