New CLARITY Act Draft Moves XRP Toward Commodity Status

Attorney Bill Morgan suggests the final draft of the CLARITY Act could finally put the Ripple supply argument to rest. The legislation indicates that XRP would be classified as a commodity when traded on secondary markets. This status would hold true even if Ripple continues to maintain a significant portion of the total token supply.

Morgan shared his thoughts on social media, noting that this development addresses common criticisms regarding Ripple's control over the supply. By providing a clear legal framework, the act seeks to distinguish secondary market activity from the company's own holdings.

This update is significant for traders who have tracked the legal battle between regulatory bodies and crypto companies for years. If the act passes, it could provide much needed legal certainty for XRP holders. Market participants will be watching to see how lawmakers respond to this final draft in the coming weeks.