$XRP Classified as Commodity Regardless of Ripple Supply Holdings
The CLARITY Act's final draft has been released, and its provisions aim to bring clarity to the crypto space. One of the key takeaways is that $XRP will be classified as a commodity in secondary markets regardless of Ripple's supply holdings.
This decision was made by Senate Republicans, who described the 635-page document as their 'last, best and final' offer to Democrats. The draft reflects 126 changes requested by Democrats during negotiations.
The finalized text includes provisions that require federal officials to either divest significant digital asset holdings or place them into a qualified blind trust. State attorneys general would also gain authority to enforce bans on officials issuing, sponsoring, or holding major stakes in digital assets.