US SEC, finally recognizes XRP 'shift in stance'..."Same asset as Bitcoin and Ethereum"

▲ XRP, US Securities and Exchange Commission (SEC)/ChatGPT generated image

XRP's regulatory status has been significantly elevated as it was mentioned as an asset in the same category as Bitcoin and Ethereum in an official document by the U.S. Securities and Exchange Commission (SEC).

Bitcoinist reported on May 3 that the SEC, while reviewing NYSE Arca's proposed rule change, explicitly listed XRP as a 'qualified asset' alongside Bitcoin (BTC) and Ethereum (ETH).

The proposal includes a standard requiring crypto spot ETFs to invest 80% of their net asset value in qualified assets, and with XRP's inclusion, the structure for it to be recognized as an asset eligible for faster ETF approval than before has been reconfirmed.

This change contrasts with the SEC's past stance, which considered only Bitcoin and Ethereum as non-security assets and allowed their ETF approvals. At that time, the regulatory environment raised the possibility of XRP being classified as a security, thus limiting its institutional integration.

This measure is considered an extension of policy changes under the current SEC regime. The fact that the SEC and the U.S. Commodity Futures Trading Commission (CFTC) jointly presented token classification guidelines that categorize major cryptocurrencies, including XRP, as commodities, follows the same trend. There is discussion that these standards may be reflected in the U.S. crypto market structure bill (CLARITY).

Furthermore, the past ruling by Judge Analisa Torres in the lawsuit with Ripple, which determined that XRP itself cannot be considered a security, is also analyzed to have played a crucial role in securing this regulatory clarity. Due to this ruling, the SEC is now in a difficult position to reject XRP-based ETF applications on the grounds of security status.

Ripple CEO Brad Garlinghouse commented at an event in Las Vegas, "The SEC is currently providing a much clearer regulatory environment than in the past."

This latest action by the SEC is interpreted as a signal placing XRP on par with Bitcoin and Ethereum, establishing a significant turning point in its institutional integration process.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*