SEC and CFTC classify XRP as a digital commodity in March 17, 2026 taxonomy update
On March 17, 2026, the SEC and CFTC jointly issued a crypto taxonomy that explicitly placed XRP in the digital commodity category. The classification follows Judge Analisa Torres’ 2023 ruling separating XRP itself from the investment-contract circumstances tied to certain Ripple sales, after Ripple and the SEC dropped their appeals in August 2025, leaving the district-court rulings in place. Evernorth CEO Asheesh Birla said the CLARITY Act would be a catalyst for institutional DeFi adoption, and the company is building an institutional DeFi ecosystem around XRP. SEC filings show Evernorth expects to hold at least 473 million XRP at closing, with David Schwartz and Brad Garlinghouse listed as strategic advisers.