US SEC calls Ripple’s proposed stablecoin an ‘unregistered crypto asset’

Golden Finance reported that the U.S. SEC seemed to target the company's proposed stablecoin in its latest court filing against Ripple. In the edited remedial response on May 7, the regulator described the proposed stablecoin as an "unregistered crypto asset" and further demonstrated that the company would continue to engage in unregulated activities without a permanent injunction against the company. It is reported that Ripple revealed plans to issue a stablecoin in April, but has not provided more details about the token since then.