SEC and CFTC Joint Guidance Recognizes XRP as Digital Commodity

Ripple's XRP cryptocurrency has been officially recognized as a digital commodity by the SEC and CFTC, shedding its "security" label. The joint guidance establishes a coherent "token taxonomy" to clarify confusion, categorizing digital assets into specific buckets. This move marks the end of the "regulation by enforcement" era and provides clarity on the lifecycle of an asset, including protocol mining, staking, airdrops, and wrapping of non-security assets.