Ripple has called on the U.S. Securities and Exchange Commission (SEC) to adopt a rights-based framework for cryptocurrency regulation, emphasizing that securities laws should focus on enforceable legal rights rather than speculation or market behavior. In a letter submitted to the SEC's Crypto Task Force on January 9, Ripple's legal team, including Chief Legal Officer Stuart Alderoty, argued that regulatory oversight should be limited to the duration of enforceable promises tied to transactions. Ripple contends that the SEC's jurisdiction should be confined to the lifespan of these obligations, regulating the 'promise' while it exists and freeing the 'asset' once the promise is fulfilled. The company warns that failing to maintain this distinction could lead to an indefinite expansion of the SEC's jurisdiction. Ripple also criticized approaches that equate market speculation with securities relationships, asserting that speculation is inherent in all markets and does not alone define a security.