SEC and CFTC Classify XRP as Digital Commodity in Joint Crypto Guidance

The U.S. SEC and CFTC classified XRP as a digital commodity rather than a security in joint guidance issued on March 17, the regulators said. The framework groups crypto assets into five categories—digital commodities, digital collectibles, digital tools, payment stablecoins and digital securities—and lists XRP, DOGE, HBAR and SHIB as digital commodities, stating that most crypto assets are not treated as securities. Ripple Chief Legal Officer Stuart Alderoty said the outcome aligns with the company's view that XRP is not a security, while SEC Chair Paul Atkins noted the agency is moving away from broader uncertainty and higher crypto oversight. Following Ripple's settlement with the SEC and the new guidance, spot XRP ETFs accumulated between $1.25 billion and $1.4 billion in total inflows since launch, with flows turning positive on March 17 and cumulative inflows across five issuers reaching $4.64 million that day, SoSoValue data show.