SEC and CFTC to independently draft crypto rules focusing on XRP and Bitcoin regulation. - Pluang

The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission are reportedly preparing to draft crypto regulations independently of each other, with attention on how XRP and Bitcoin are treated. The two agencies have historically taken different approaches to digital assets, and separate rulemaking could widen that gap rather than produce a single unified framework.

For market participants, the distinction matters because XRP and Bitcoin have been classified differently in past enforcement and legal discussions. Bitcoin has generally been treated as a commodity, while XRP's status has been the subject of prolonged litigation. If the SEC and CFTC each formalize their own definitions and jurisdictional boundaries, the result could be clearer rules in some areas but overlapping or conflicting guidance in others.

What to watch: the substance and timing of any published proposals, whether the agencies coordinate on shared definitions such as "security" and "commodity," and how courts and industry respond. Until formal rules are issued, the regulatory treatment of XRP and Bitcoin remains shaped by existing law and case outcomes rather than new agency text.