Crypto Bill Draft Grants XRP, Solana and Dogecoin Same Legal Status as Bitcoin

Core Viewpoint - A draft U.S. Senate bill could provide significant regulatory relief for major cryptocurrencies like XRP, Solana, and Dogecoin by categorizing them similarly to Bitcoin and Ethereum [1][2]. Group 1: Regulatory Changes - The "Clarity Act" draft includes a provision to classify certain tokens as "non-ancillary" assets, exempting them from being treated as securities and related SEC disclosure requirements [2]. - A token is considered non-ancillary if, by January 1, 2026, it was the principal asset of an exchange-traded product listed on a national securities exchange [3]. - Existing ETP listings indicate that XRP, Solana, Litecoin, Hedera, Dogecoin, and Chainlink would gain regulatory status similar to Bitcoin and Ethereum upon the bill's effective date [4]. Group 2: Market Impact - The immediate impact of the bill is expected to enhance institutional access rather than short-term speculation, as noted by experts [4]. - Altcoins showed muted gains in response to the draft clarity bill, while Bitcoin traded near $93,000, reflecting a 1.9% increase [5]. - Users on prediction market Myriad increased the likelihood of an alt season in Q1 from 16% to 18% following the news [5]. Group 3: Institutional Engagement - If the language of the bill remains in the final version, it would primarily affect compliance posture rather than prices, potentially widening institutional engagement with cryptocurrencies [6]. - The bill signifies a shift towards regulating crypto assets based on their distribution and usage within regulated financial products [6]. - Finalizing the bill with a 'non-ancillary' label linked to ETFs could align XRP, SOL, and DOGE with the compliance framework that has attracted institutional demand for BTC and ETH [7]. Group 4: Political Considerations - The bill's future is uncertain and may be influenced by U.S. political dynamics, particularly the upcoming mid-term elections [8].