Bitcoin, Ether and XRP: Towards a New Regulatory Classification in the U.S.? 🇺🇸🔗
Attention, crypto community! A key bill is being debated in the United States, the Responsible Financial Innovation Act (RFI Act), which seeks to bring order to the wild west of crypto. The big news is the possible creation of the category of "auxiliary assets".
What does it mean to be an "auxiliary asset"? 🤔
It would apply to cryptos that, while not being traditional financial securities, require regulation. Their value would depend on their utility in a decentralized network, not on the efforts of a third party. This could change the game!
How does it affect BTC, ETH, and XRP? 🚀
Bitcoin (BTC): Due to its decentralized nature, it has a good chance of being an auxiliary asset and avoiding securities regulations.
Ether (ETH): Its classification will depend on whether the SEC considers that Ethereum no longer has centralized control.
XRP: With a high probability of being classified as such, especially after recent rulings, although Ripple's control over its supply could be a hurdle.
Additionally, the law could offer registration exemptions for sales of these assets of up to $75 million annually under certain conditions.
👉 It’s a long process that could take years, but it lays the groundwork for a clearer regulatory future. We will be watching closely!
