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 requirement.
ETF eligibility as a gateway
The legalization is based on a token's inclusion in a regulated financial product.
The draft text specifies that a token is considered non-ancillary—and not a security—"if, on January 1, 2026, any units of that network token were the principal asset of an exchange-traded product... listed and traded on a national securities exchange," the document read.
