Bitcoin a Commodity, XRP a Security? Three Key Points of the ‘Clarity Act’
Bitcoin a Commodity, XRP a Security? Three Key Points of the ‘Clarity Act’
As the U.S. Congress moves forward with the enactment of the “Clarity Act” aimed at regulating the cryptocurrency market, three key changes that investors must closely watch have been announced. The bill contains sweeping measures that could reshape the market landscape, from clearly defining digital assets to prohibiting stablecoin staking, heightening tension across the industry.
According to investment media outlet The Motley Fool on February 12 (local time), the U.S. Senate Banking Committee recently drafted a revised version of the “Digital Asset Market Clarity Act.” The bill, which passed the House of Representatives last July, is currently under review by the Senate Banking Committee as bipartisan discussions continue to build a more concrete regulatory framework.
The first major issue is establishing clear criteria for classifying virtual assets as either commodities or securities. If the bill passes, Bitcoin (BTC) and Ethereum (ETH) would be categorized as commodities under the jurisdiction of the Commodity Futures Trading Commission (CFTC), while smaller tokens such as XRP (Ripple) would be classified as securities subject to regulation by the U.S. Securities and Exchange Commission (SEC). This clearer distinction is expected to encourage inflows of conservative investment capital and accelerate the launch of ETF products.
The second notable provision is a potential ban on offering yields for stablecoins. The Clarity Act is likely to prohibit investors from staking stablecoins on centralized or decentralized finance platforms to earn interest. The banking sector supports the regulation, arguing that such high-yield products lack depositor protection and carry significant hidden risks, while exchanges such as Coinbase have strongly opposed the measure.
Finally, investor protection measures would be significantly strengthened. The CFTC and SEC would gain enhanced authority to prosecute fraudulent activities, while crypto companies and exchanges would face stricter custody, transparency, and reporting requirements. This is expected to curb misleading promotions and drive poorly managed coins—those offering excessive high-leverage products without sufficient reserves—out of the market.
Experts say these changes could, in the long term, make the cryptocurrency market more stable and predictable, similar to the stock market. However, they also warn that such reforms may diminish the appeal of crypto as a decentralized investment asset. As government oversight expands, the identity of cryptocurrency as a symbol of “regulation-free freedom” faces a critical test.
Disclaimer: This article is for investment reference only and we are not responsible for any investment losses arising from its use. The content should be interpreted solely for informational purposes.
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