Ripple's Chief Legal Officer outlines six key principles, urging the U.S. SEC to adopt a prudent approach to cryptocurrency regulation

ChainCatcher message, Ripple's Chief Legal Officer Stuart Alderoty outlined six key principles on New Year's Eve, urging the U.S. SEC to adopt a prudent approach to cryptocurrency regulation:

• The SEC has jurisdiction only over securities transactions;
• Selling gold bars with contractual rights, ownership, or mining interests may constitute a securities transaction;
• Selling the same gold bar without post-sale rights or obligations is merely an asset sale, which the SEC has no authority to regulate;
• The SEC's jurisdiction will not expand based on its self-serving view of who "should" disclose;
• Tokens are not securities, although they can be the subject of securities transactions;
• The notion that tokens can "evolve" from securities to non-securities is a fictional fallacy with no legal basis.