Crypto
CLARITY Act Finalized, Settling Debate on XRP Commodity Status
A proposed bill called the CLARITY Act has been finalized and released in its final text form. According to attorney Bill Morgan, this draft ends a long-running debate in the crypto community about the classification of XRP.
Morgan said that XRP will be classified as a commodity in secondary markets regardless of how much of the supply Ripple continues to hold.
The bill includes provisions related to ethics, such as requiring federal officials to divest significant digital asset holdings or place them into a qualified blind trust.