A highly anticipated draft of comprehensive digital assets legislation has surfaced, proposing a landmark regulatory framework that would grant major cryptocurrencies, including XRP, Solana (SOL), and Dogecoin (DOGE), the same legal status as Bitcoin (BTC). This move effectively classifies these established assets as ‘digital commodities,’ dramatically shifting them out of the legal purview typically reserved for securities.
The draft bill, circulated among key legislative committees, seeks to end years of regulatory ambiguity that has plagued the industry, particularly in jurisdictions where the primary securities regulator has maintained an aggressive stance on classifying tokens as unregistered securities. By designating these leading decentralized assets as commodities, the bill aims to standardize compliance requirements and foster institutional adoption by mitigating regulatory uncertainty.
For XRP, which has been entangled in a protracted legal battle over its security status, the proposed classification represents a significant legislative victory, providing the clarity sought by its developers and investors. Similarly, for Solana and Dogecoin—both high-market-cap assets often treated distinctly from Bitcoin due to their newer origins or utility structure—this designation offers a clear pathway forward.
Experts suggest that the standardization of status across these market leaders will provide necessary regulatory certainty, encouraging clearer listing standards for exchanges and improved consumer protection measures focused on market manipulation rather than initial offering disclosures. While the bill remains a draft and is subject to further political negotiation, its existence signals a strong legislative appetite to formally integrate established digital assets into the traditional financial regulatory structure as non-security commodities.
Source: Crypto Bill Draft Grants XRP, Solana and Dogecoin Same Legal Status as Bitcoin
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