Has US SEC Labelled XRP As Commodity? Crypto Community Weighs In
The post Has US SEC Labelled XRP As Commodity? Crypto Community Weighs In appeared on BitcoinEthereumNews.com.
The cryptocurrency market is actively discussing the U.S. Securities and Exchange Commission’s (SEC) latest acknowledgment of XRP-related Exchange Traded Funds (ETFs). While some believe this signals XRP’s classification as a commodity, the SEC has not made an official statement confirming its status. The uncertainty has fueled speculation among investors and analysts. Has US SEC Labelled XRP As Commodity? On 12th February 2025, the US SEC acknowledged multiple applications for ETFs based on various cryptocurrencies, including XRP (from Grayscale and 21Shares). This acknowledgment aligns XRP with Bitcoin and Ethereum, which are widely viewed as commodities. However, the SEC did not explicitly confirm whether XRP itself falls under the same category. Eleanor Terrett, a crypto journalist, noted in an X post that the US SEC is currently reviewing several digital asset ETFs, including those tied to XRP, Solana (SOL), and Dogecoin (DOGE). She stated, “They have acknowledged that issuers are applying for a product that classifies XRP as a commodity asset within a securities wrapper.” While this suggests a shift in regulatory stance, the SEC has yet to provide final clarity. Ealier this week, legal expert Jeremy Hogan clarified that the Ripple vs SEC lawsuit is very unlikely to affect the XRP ETF approval procedure. Ripple’s Lawsuit and Court Ruling on XRP Ripple Labs has been engaged in a long-standing legal dispute with the SEC over whether XRP should be classified as a security. In a key ruling, a U.S. judge determined that XRP was not a security in secondary market transactions. However, the court also ruled that Ripple’s direct institutional sales of XRP were unregistered securities offerings. The SEC has paused further litigation as its crypto task force continues to evaluate the regulatory framework for digital assets. Legal experts suggest that an appeal remains a possibility, which could extend the uncertainty…
Filed under: News - @ February 16, 2025 3:26 am