{"id":249743,"date":"2026-01-27T14:40:20","date_gmt":"2026-01-27T14:40:20","guid":{"rendered":"https:\/\/cryptonews.com\/tr\/news\/ex-sec-lawyer-backs-ripples-clarity-act-stance-says-speculation-isnt-securities-law\/"},"modified":"2026-01-27T14:26:09","modified_gmt":"2026-01-27T14:26:09","slug":"secin-eski-avukatindan-ripplea-kritik-destek","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/tr\/news\/secin-eski-avukatindan-ripplea-kritik-destek\/","title":{"rendered":"SEC’in Eski Avukat\u0131ndan Ripple’a Kritik Destek"},"content":{"rendered":"
\"SEC'in<\/figure>

SEC\u2019in eski avukatlar\u0131ndan biri, Ripple\u2019\u0131n “sadece fiyat art\u0131\u015f\u0131 beklentisinin menkul k\u0131ymet d\u00fczenlemelerini tetiklemek i\u00e7in yeterli olmamas\u0131 gerekti\u011fi” y\u00f6n\u00fcndeki g\u00f6r\u00fc\u015f\u00fcne kamuoyu \u00f6n\u00fcnde destek verdi.<\/p>

SEC\u2019in devam eden Kripto G\u00f6rev G\u00fcc\u00fc (Crypto Task Force) isti\u015fare s\u00fcrecinin bir par\u00e7as\u0131 olarak sunulan bu g\u00f6r\u00fc\u015fler, yat\u0131r\u0131m s\u00f6zle\u015fmeleri ile bu s\u00f6zle\u015fmeler etraf\u0131nda ticaret yapabilen varl\u0131klar aras\u0131na daha net bir \u00e7izgi \u00e7ekilmesi gerekti\u011fini savunan politika arg\u00fcmanlar\u0131na g\u00fc\u00e7 kazand\u0131rd\u0131. <\/p>

SEC\u2019in eski avukatlar\u0131ndan Teresa Goody Guill\u00e9n taraf\u0131ndan kaleme al\u0131nan bu yan\u0131t, Pazartesi g\u00fcn\u00fc komisyonun web sitesinde kamuoyu g\u00f6r\u00fc\u015f\u00fc olarak yay\u0131mland\u0131<\/a>.<\/p>

Guill\u00e9n\u2019in yan\u0131t\u0131, Ripple\u2019\u0131n 9 Ocak tarihli mektubuna bir cevap niteli\u011fi ta\u015f\u0131yor. Ripple s\u00f6z konusu mektupta, bir kripto varl\u0131\u011f\u0131 sadece al\u0131c\u0131lar\u0131n fiyat art\u0131\u015f\u0131 beklentisi i\u00e7inde olmas\u0131 nedeniyle menkul k\u0131ymet olarak g\u00f6ren d\u00fczenleyici \u00e7er\u00e7evelere kar\u015f\u0131 uyar\u0131da bulunmu\u015ftu.<\/sup><\/p>

Ripple: Spek\u00fclasyon Tek Ba\u015f\u0131na Menkul K\u0131ymet Kural\u0131n\u0131 Tetiklememeli<\/h2><\/span>

Guill\u00e9n, Ripple\u2019\u0131n temel endi\u015fesine kat\u0131ld\u0131\u011f\u0131n\u0131 belirterek, “pasif ekonomik \u00e7\u0131kar” odakl\u0131 yakla\u015f\u0131mlar\u0131n piyasa spek\u00fclasyonu ile yasal olarak uygulanabilir yat\u0131r\u0131m haklar\u0131n\u0131 birbirine kar\u0131\u015ft\u0131rma riski ta\u015f\u0131d\u0131\u011f\u0131n\u0131 ifade etti.<\/p>

Mektubunda Guill\u00e9n, dijital varl\u0131k piyasa yap\u0131s\u0131 \u00fczerine yapt\u0131\u011f\u0131 akademik \u00e7al\u0131\u015fmalar\u0131n Ripple taraf\u0131ndan bu kavramlar\u0131n birbirine kar\u0131\u015ft\u0131r\u0131lmas\u0131n\u0131 onaylamak i\u00e7in de\u011fil, ekonomik fakt\u00f6rlerin nas\u0131l de\u011ferlendirilmesi gerekti\u011fine dair daha geni\u015f bir tart\u0131\u015fman\u0131n par\u00e7as\u0131 olarak al\u0131nt\u0131land\u0131\u011f\u0131n\u0131 netle\u015ftirdi. <\/p>

Guill\u00e9n, dijital varl\u0131klara menkul k\u0131ymet yasalar\u0131 uygulan\u0131rken spek\u00fclatif niyet de dahil olmak \u00fczere hi\u00e7bir fakt\u00f6r\u00fcn tek ba\u015f\u0131na belirleyici olmamas\u0131 gerekti\u011fini vurgulad\u0131. <\/p>

Bunun yerine, bu unsurlar\u0131n yasal y\u00fck\u00fcml\u00fcl\u00fckler ve tarihsel d\u00fczenleyici pratikler temelinde, de\u011fi\u015fken bir \u00f6l\u00e7ekte tart\u0131lmas\u0131 gerekti\u011fini savundu.<\/p>

Ripple\u2019\u0131n SEC Kripto G\u00f6rev G\u00fcc\u00fc\u2019ne sundu\u011fu orijinal ba\u015fvuru<\/a>, Kongre\u2019nin CLARITY Yasas\u0131\u2019n\u0131 de\u011ferlendirdi\u011fi bir d\u00f6nemde geldi.<\/p>

\"\"
Kaynak: sec.gov<\/a><\/em><\/figcaption><\/figure>

Ripple\u2019\u0131n arg\u00fcman\u0131n\u0131n merkezinde, varl\u0131\u011f\u0131n kendisi ile o varl\u0131\u011f\u0131n sat\u0131ld\u0131\u011f\u0131 i\u015flem aras\u0131ndaki ayr\u0131m yer al\u0131yor. \u015eirket, bir ihra\u00e7\u00e7\u0131n\u0131n uygulanabilir vaatleri yerine getirildi\u011finde veya s\u00fcresi doldu\u011funda, varl\u0131\u011f\u0131n kendisinin s\u00fcresiz olarak menkul k\u0131ymet d\u00fczenlemelerine tabi kalmamas\u0131 gerekti\u011fini savunuyor. <\/p>

Aksi bir yakla\u015f\u0131m\u0131n, bir s\u00f6zle\u015fme ile emtia benzeri bir varl\u0131k aras\u0131ndaki fark\u0131 ortadan kald\u0131raca\u011f\u0131n\u0131 ve d\u00fczenleyici yetkiyi ama\u00e7lanan s\u0131n\u0131rlar\u0131n \u00f6tesine ta\u015f\u0131yaca\u011f\u0131n\u0131 belirtiyor.<\/p>

Ripple ayr\u0131ca, Howey testinin “ba\u015fkalar\u0131n\u0131n \u00e7abalar\u0131na dayal\u0131 olma” kriterine a\u015f\u0131r\u0131 vurgu yapan d\u00fczenleyici yakla\u015f\u0131mlara da kar\u015f\u0131 \u00e7\u0131k\u0131yor. <\/p>

\u015eirkete g\u00f6re, sadece al\u0131c\u0131lar\u0131n ba\u015fkalar\u0131n\u0131n \u00e7abalar\u0131ndan k\u00e2r elde etme beklentisine odaklanmak; ortak giri\u015fim ve uygulanabilir k\u00e2r haklar\u0131 gibi bir yat\u0131r\u0131m s\u00f6zle\u015fmesinin temel unsurlar\u0131n\u0131 g\u00f6z ard\u0131 ediyor.<\/p>

Yeni Varl\u0131k Kategorisi Tart\u0131\u015f\u0131l\u0131yor<\/h2><\/span>

Guill\u00e9n\u2019in sundu\u011fu g\u00f6r\u00fc\u015fler bu yakla\u015f\u0131mla \u00f6rt\u00fc\u015f\u00fcrken, kendisi hen\u00fcz belirli bir yasama teklifini desteklemi\u015f de\u011fil. Bununla birlikte Guill\u00e9n, mevcut menkul k\u0131ymet veya emtia \u00e7er\u00e7evelerine tam olarak uymayan varl\u0131klar i\u00e7in “Dijital De\u011fer Ara\u00e7lar\u0131” (Digital Value Instruments) ad\u0131 verilen yeni bir s\u0131n\u0131fland\u0131rma \u00f6neren “2026 Dijital Piyasalar Yeniden Yap\u0131land\u0131rma Yasas\u0131” tasla\u011f\u0131n\u0131 payla\u015ft\u0131.<\/p>

Bu tart\u0131\u015fmalar, Ocak ay\u0131 sonunda sekt\u00f6r temsilcileri, politika gruplar\u0131 ve eski d\u00fczenleyiciler taraf\u0131ndan sunulan<\/a> geni\u015f kapsaml\u0131 g\u00f6r\u00fc\u015flerin bir par\u00e7as\u0131 olarak g\u00fcndeme geldi. <\/p>

Bir\u00e7ok kat\u0131l\u0131mc\u0131, geleneksel hisse senetleri i\u00e7in tasarlanan kurallar\u0131n dijital varl\u0131klara dayat\u0131lmamas\u0131 gerekti\u011fini vurgularken, piyasa b\u00fct\u00fcnl\u00fc\u011f\u00fcn\u00fcn korunmas\u0131 \u00e7a\u011fr\u0131s\u0131nda bulundu.<\/p>

Politika tart\u0131\u015fmalar\u0131 s\u00fcrerken Senato\u2019daki yasama h\u0131z\u0131 ise yava\u015flad\u0131. Bu hafta Washington\u2019u etkisi alt\u0131na alan \u015fiddetli k\u0131\u015f f\u0131rt\u0131nas\u0131, Senato Tar\u0131m Komitesi\u2019nin dijital varl\u0131k piyasa yap\u0131s\u0131 mevzuat\u0131na ili\u015fkin ilk oylamas\u0131n\u0131 geciktirerek belirsiz olan s\u00fcreci daha da karma\u015f\u0131k hale getirdi. Benzer \u015fekilde Bankac\u0131l\u0131k Komitesi\u2019nin CLARITY Yasas\u0131 \u00fczerindeki \u00e7al\u0131\u015fmalar\u0131 da ertelendi<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

SEC\u2019in eski avukatlar\u0131ndan biri, Ripple\u2019\u0131n “sadece fiyat art\u0131\u015f\u0131 beklentisinin menkul k\u0131ymet d\u00fczenlemelerini tetiklemek i\u00e7in yeterli olmamas\u0131 gerekti\u011fi” y\u00f6n\u00fcndeki g\u00f6r\u00fc\u015f\u00fcne kamuoyu \u00f6n\u00fcnde destek verdi.SEC\u2019in devam eden Kripto G\u00f6rev G\u00fcc\u00fc (Crypto Task Force) isti\u015fare s\u00fcrecinin bir par\u00e7as\u0131 olarak sunulan bu g\u00f6r\u00fc\u015fler, yat\u0131r\u0131m s\u00f6zle\u015fmeleri ile bu s\u00f6zle\u015fmeler etraf\u0131nda ticaret yapabilen varl\u0131klar aras\u0131na daha net bir \u00e7izgi \u00e7ekilmesi gerekti\u011fini […]<\/p>\n","protected":false},"author":235,"featured_media":249745,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9,1],"tags":[131,217],"editors":[352],"sponsored_companies":[],"class_list":["post-249743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-news","tag-ripple","tag-sec","editors-ufuk-toprak"],"acf":[],"yoast_head":"\nSEC'in Eski Avukat\u0131ndan Ripple'a Kritik Destek<\/title>\n<meta name=\"description\" content=\"Eski SEC avukat\u0131 Guill\u00e9n, Ripple'\u0131n "fiyat art\u0131\u015f\u0131 beklentisi menkul k\u0131ymet say\u0131lmaz" tezine deste\u011fini sundu.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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