XRP Acknowledgement As Commodity By CFTC Faces Criticism
Main Idea
The CFTC's classification of XRP as a commodity for regulated Event Contracts has sparked criticism, particularly from Chainlink supporters, while potentially increasing liquidity and formal infrastructure for XRP.
Key Points
1. The CFTC recognized XRP as a commodity for regulated Event Contracts, placing it within a derivatives framework with limited payout contracts.
2. Critics, particularly Chainlink supporters, raised objections regarding legal safeguards associated with securities.
3. The designation may facilitate wider CFTC oversight, potentially increasing liquidity and formal infrastructure for XRP.
4. The SEC's stance on XRP as a non-security is considered settled, according to the article.
Description
A regulatory update that places XRP within a commodity framework has prompted sharp disagreement from certain corners of the cryptocurrency community, notably among some Chainlink supporters. The dispute focuses on how tokens should be categorized and the practical consequences of classification decisions. Vet (@Vet_X0), a validator on the XRP Ledger, summarized the reaction by stating that many participants “see no difference between issued and native assets”, a phrase that reflects a broader s...
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