The SEC and CFTC Say They Will Write Crypto Rules Without Congress. What Atkins and Selig Can Actually Do for XRP and Bitcoin. - finance.yahoo.com

The SEC and CFTC have signaled they intend to advance crypto rulemaking through their own agency processes rather than waiting on Congress. That matters because both commissions already have existing authority over securities and derivatives markets, which they can apply to digital assets through formal rule proposals, interpretive guidance, and enforcement priorities.

For XRP and Bitcoin, the practical relevance differs. Bitcoin has generally been treated as a commodity by regulators, while XRP's status has been shaped by litigation and ongoing questions about how securities law applies. Agency-led rulemaking could bring clearer definitions and compliance pathways, but it could also face legal challenges or be reversed by future leadership.

What to watch: formal proposals published for public comment, the specific legal authority each agency cites, and whether the courts accept that framework. For markets, the key variable is not headlines but durable rules that reduce ambiguity for exchanges, issuers, and investors.