TechFlow, May 28 — According to Cointelegraph, Ripple recently sent a letter to the U.S. Securities and Exchange Commission (SEC), clearly stating that fungible tokens (FTs) should not be considered securities in secondary market transactions. The letter cited research by cryptocurrency legal expert Lewis Cohen, emphasizing that investment contract relationships typically do not exist in secondary trading, and fungible crypto assets lack the legal characteristics of securities. Notably, SEC Commissioner Hester Peirce has recently publicly criticized the SEC's approach to regulating cryptocurrencies, stating that "most existing crypto assets are not securities," and calling for a more rational regulatory framework.
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