Ripple has submitted a follow-up letter to the SEC Crypto Task Force on May 22, 2026, outlining several proposed rule changes that would significantly expand the regulatory treatment of its tokens XRP and RLUSD within regulated US financial markets. The filing requests that non-security digital assets like XRP receive the same institutional acceptance as Bitcoin and Ethereum, and that properly backed payment stablecoins such as RLUSD be recognized as reliable collateral instruments.
According to the filed letter, which followed a March meeting with SEC officials including Commissioner Hester Peirce, Ripple is pushing for a new “Qualified Payment Stablecoins” category under SEC guidance. This would allow broker-dealers to manage stablecoins under clearer compliance standards. Specifically, the company requested a 0% haircut treatment for stablecoins operating under mint‑and‑burn redemption structures – a framework that would let tokens like RLUSD and USDC be treated closer to cash‑equivalents in regulatory capital calculations.
The proposal also includes a call to recognize on‑chain transfer ledgers as authoritative ownership records for tokenized assets, potentially reducing reliance on off‑chain databases and streamlining how custodians and institutional firms handle XRP in regulated environments. Ripple argued that expanding the list of non‑security digital assets eligible for institutional treatment – explicitly placing XRP alongside Bitcoin and Ethereum – would bring greater certainty to market participants.
Simultaneously, a separate congressional document revealed increased scrutiny around Ripple’s national trust bank activities, with Senator Elizabeth Warren requesting confidential materials related to Ripple National Trust Bank and questioning whether the Office of the Comptroller of the Currency had expanded trust company powers too broadly. While this inquiry adds pressure, the SEC submission underscores Ripple’s continued strategy to firmly integrate XRP and RLUSD into the US financial infrastructure.
