Representative Ritchie Torres, a Democrat from New York, has called for an overhaul of crypto regulation in a letter to the Securities and Exchange Commission (SEC) following Ripple’s recent summary judgment win. Torres criticized the SEC’s use of the Howey test as “sloppy” and urged the regulator to reconsider its approach. He proposed what he called the “Torres Doctrine,” which states that crypto assets are not securities themselves but can be sold as part of investment contracts, which do qualify as securities under the Howey test. Torres asked the SEC to prioritize giving the agency clarity and fair notice. The sentiment of the content is positive, and the topic is regulations.
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