US SEC Classifies XRP, DOGE, ADA, and Others as Digital Commodities

The US Securities and Exchange Commission (SEC) has made a major announcement regarding the classification of certain cryptocurrencies. According to a press release issued by the SEC, several popular coins, including XRP, SHIB, DOGE, ADA, and SOL, are now considered digital commodities rather than securities.

This decision is seen as a significant development in the crypto industry, with many leaders welcoming the clarity on the matter. The move is also notable because it marks a shift from the previous SEC administration's stance that most crypto assets are not themselves securities.

Top figures in the space have reacted positively to the news, with Binance CEO Changpeng Zhao (CZ) calling it a 'huge step for the crypto industry' and Ripple's chief legal officer Stuart Alderoty stating that XRP is now officially recognized as a digital commodity.