Senate Draft Bill Puts XRP, Solana, Dogecoin on Bitcoin’s Level

Group 1 - The draft US Senate bill categorizes XRP, Solana, and Dogecoin alongside Bitcoin, indicating a regulatory shift towards treating these tokens as commodities rather than securities [1][2][3] - The proposed "Clarity Act" defines certain tokens as "non-ancillary" assets, which allows for clearer regulatory treatment and potential inclusion in exchange-traded products (ETFs) [2][3] - The bill's ETF provision is significant as it enables institutional investors, such as pension funds and asset managers, to engage with these tokens, enhancing their market liquidity [4][5] Group 2 - Despite the potential implications of the bill, market reactions have been muted due to its draft status, which allows for amendments and potential delays in implementation [6] - Bitcoin's price stability contrasts with the muted movements of altcoins, as Bitcoin already enjoys regulatory clarity, while the bill aims to extend similar treatment to other tokens [7] - The draft represents a broader shift in US crypto regulation from enforcement to rule-making, aiming to provide clearer guidelines for the industry and protect software developers [8]