Ripple's chief legal officer outlined six principles to the US SEC, urging it to adopt a cautious encryption regulatory approach

Odaily Planet Daily News Ripple Chief Legal Officer Stuart Alderoty outlined six key principles on the eve of the new year, urging the US SEC to take a cautious approach to regulation.

1. The SEC only has jurisdiction over securities trading;
2. Selling gold bars with contractual rights, ownership, or mining rights may be securities transactions;
3. Selling the same gold bar without any after-sales rights or obligations is just an asset sale, and the SEC has no regulatory authority;
4. The jurisdiction of the SEC will not be expanded based on its selfish view of who should disclose more.
5. Tokens are by no means securities, although they can be the subject of securities trading;
6. The notion that tokens can ‘evolve’ from securities to non-securities is a fictional fallacy with no legal basis.