SEC and CFTC Clarify Digital Asset Oversight with Bitcoin and XRP as Examples

The U.S. Securities and Exchange Commission (SEC) has provided its interpretation based on existing authority after the cryptocurrency market structure bill stalled, while the Commodity Futures Trading Commission (CFTC) has issued related guidelines. Both agencies' frameworks address oversight of digital assets including Bitcoin (BTC) and XRP. Crypto Briefing reported that SEC and CFTC can independently establish cryptocurrency regulations. The Clarifying Law on Digital Asset Market Structure has not advanced in the Senate. On March 17, the SEC presented Bitcoin and XRP as examples of digital commodities within a classification system dividing them into digital commodities, digital collectibles, digital tools, payment stablecoins, and digital securities. The CFTC stated it will apply commodity trading laws accordingly.