SEC Crypto Rules Win Ripple Support as Blockchain Association Seeks $150M Fundraising Cap

Ripple and seven industry groups backed the SEC Regulation Crypto Assets proposal before the October 20 comment deadline. Ripple urged the agency to apply the Howey test to investment contracts. Six blockchain organizations asked the SEC to write digital commodity definitions into the final rule. The Blockchain Association sought a $10 million startup exemption and a $150 million offering cap.