SEC and CFTC to independently draft crypto rules focusing on XRP and Bitcoin regulation. - Pluang

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are reportedly preparing to draft crypto regulations independently of one another, with attention directed toward how assets such as XRP and Bitcoin are classified and overseen. The development highlights a persistent question in U.S. digital-asset policy: which agency holds jurisdiction over a given token, and under what legal framework.

For market participants, the significance lies less in any single rule than in the structure taking shape. Bitcoin has generally been treated as a commodity, while XRP's status has been the subject of prolonged legal scrutiny. Separate agency efforts could produce overlapping or divergent standards, affecting exchanges, issuers, and investors alike.

What to watch: whether the two agencies coordinate or publish conflicting guidance, how token classification evolves, and whether Congress steps in with broader legislation. Clarity on jurisdiction tends to matter more to markets than the specific content of any one draft.