Ripple backs SEC crypto regulation after XRP legal fight cost over $150 million

Ripple is backing the SEC’s proposed crypto regulation after spending more than $150 million seeking legal clarity over XRP. In a 20-page comment letter filed on October 20, 2026, the company supported Regulation Crypto Assets while urging the agency to distinguish an investment contract from the token sold through it. Key takeaways Ripple supports rules that separate tokens from investment contracts. Six crypto projects jointly urged codification of the digital commodity framework. The Blockchain Association wants a $10 million startup exemption. The SEC is accepting feedback beyond its formal deadline. Ripple backs SEC crypto regulation grounded in issuer promises Rather than classifying the underlying crypto asset as a security, Ripple favors applying the Howey test to the investment arrangement itself.

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