Ripple has officially endorsed the U.S. Securities and Exchange Commission's (SEC) proposed 'Regulation Crypto Assets', calling on the regulator to abandon its controversial enforcement-driven approach in favor of clearer rules for the cryptocurrency industry. The blockchain firm submitted a comment letter to the SEC on October 20, encouraging the agency to proceed with the proposed regulation. The proposal includes two exemptions: allowing qualifying crypto projects to raise up to $5 million over four years, and up to $75 million annually. It also introduces a conditional safe harbor for digital assets that have ceased to be investment contracts.