CTF Written Submission
Letter to the Crypto Task Force
May 27, 2025
- Judge Torres ruled that XRP itself is not a security, even though Ripple had previously sold some units of XRP as part of investment contracts.
- The SEC's guidance should adhere to existing law to reduce market confusion and avoid reliance on vague concepts like "fully functional" or "sufficiently decentralized."
- A well-designed safe harbor could provide meaningful protection to good-faith actors navigating genuine legal uncertainty.
Last Reviewed or Updated: May 27, 2025