A significant shift in US cryptocurrency regulation occurred this week as the SEC and CFTC jointly clarified the status of 16 major cryptocurrencies – including Bitcoin, Ethereum, XRP, Dogecoin, and Shiba Inu – as digital commodities, not securities. This follows Judge Torres’ ruling in the SEC v. Ripple case, which the SEC now appears to validate. The agencies formalized their coordinated approach with a new memorandum of understanding, aiming for unified oversight and clearer guidance. SEC Chair Atkins further clarified that NFTs generally fall outside securities laws, viewing them as collectibles rather than investments. This move signals a departure from the SEC’s previous enforcement-focused approach, particularly under the new administration. Evernorth, an XRP treasury vehicle, is preparing for a Nasdaq listing under the ticker $XRPN, representing a major public market debut for a crypto-native firm. Simultaneously, Cari Network is leveraging ZKsync’s Prividium to enable US regional banks to participate in a tokenized deposit network, aiming to compete with stablecoin issuers. These developments collectively indicate a growing acceptance and integration of cryptocurrencies within the traditional financial system.
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