Ripple’s Grand Ballet with the SEC: A Comedy in Six Acts
The agenda, a six-point manifesto, was as ambitious as it was verbose. It sought to align the treatment of stablecoins under the net capital rule (Rule 15c3-1) and the customer protection rule (Rule 15c3-3), proposing that stablecoins be treated as cash substitutes rather than securities. A bold move, one might say, akin to suggesting a bear be treated as a house pet.



