Ripple’s XRP Maintains Status as Digital Commodity
- A federal court ruling in 2023 confirmed that XRP is not a security.
- The SEC and CFTC issued guidance in March recognizing XRP as a digital commodity.
- Ripple’s legal position is reinforced by the SEC-CFTC interpretation, which took effect on March 23.
- The Senate failed to advance the CLARITY Act on September 15, leaving broader crypto market structure legislation unresolved.
Ripple Chief Legal Officer Stuart Alderoty emphasized XRP’s established legal status after recent legislative setbacks, highlighting the asset’s classification as a digital commodity by federal agencies. The distinction between XRP itself and transactions involving it remains critical under securities law.
Despite the Senate’s failure to progress with new crypto legislation, Ripple asserts its standing based on existing rulings and interpretations that classify XRP as a digital commodity rather than a security. ( Source)
