SEC and CFTC Joint Guidance Classifies Ripple's XRP as a Digital Commodity on March 17

On March 17, the SEC and CFTC issued a joint interpretation that classifies Ripple-linked XRP as a digital commodity instead of a security. Ripple's Chief Legal Officer Stuart Alderoty and CFTC Chairman Michael S. Selig both highlighted that the guidance gives long-awaited clarity on asset categories and the treatment of crypto activities such as mining, staking and airdrops.