Crypto
SEC crypto task force proposes new classification amid concerns over Ripple\'s CLARITY Act
The U.S. Securities and Exchange Commission’s crypto task force sympathised with concerns raised by Ripple over the CLARITY Act and said applying securities laws based only on speculation is excessive. The SEC is reviewing a new digital asset classification system. Ripple said in a submission dated 9 that applying securities laws based solely on speculative holdings is inappropriate. Lawyer Theresa Goody Guillén proposed classifying certain assets as “Digital Value Instruments” and called for safeguards to clarify SEC and CFTC jurisdiction.
