The draft provision would treat tokens as “non-ancillary” assets, exempt from SEC securities rules, if they were in an ETF by 2026.
In brief
A draft version of the"Clarity Act" draft creates a "non-ancillary" legal status for crypto assets that were part of a listed exchange-traded product as of New Year's Day 2026.Experts say the primary impact would be on institutional compliance and access, not short-term price moves, by providing clear regulatory pathways.The provision's fate is politically uncertain and would establish a two-tier system, making ETF eligibility a key regulatory strategy for crypto projects.
A draft version of a key U.S. Senate bill could grant major cryptocurrencies like XRP, Solana, and Dogecoin significant regulatory relief by placing them in the same category as Bitcoin and Ethereum, according to text circulating ahead of the official release.
The draft of the Senate Banking Committee's "Clarity Act," released by Chairman Tim Scott of the Senate Banking Committee today, includes a provision that would classify certain tokens as "non-ancillary" assets, effectively exempting them from being treated as securities and from related Securities and Exchange Commission (SEC) disclosure requirements.
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