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With the Ripple (XRP) case setting a precedent, the agency withdrew a vast majority of its lawsuits against foundations developing open-source software. A new draft bill clearly eliminates the gray areas regarding which crypto assets are commodities and which are securities.
Exchanges Breathe a Sigh of Relief After the Ruling
Giant exchanges like Coinbase and Kraken announced they are reviving lending and yield products targeted at institutions as years of licensing uncertainties dissolve.
"We must lead innovation by setting clear rules of the game, not by prosecuting it. The US doesn't have the luxury of missing the financial revolution."
This historic ruling paves the way for Wall Street funds to safely deploy capital into the sector.
Moving forward, most tokens can trade freely without the overhanging threat of enforcement actions. It's heavily anticipated that talented builders who previously fled the U.S. will return to establish innovation-centric Web3 start-ups. With the regulatory shield raised, billions of dollars in Venture Capital (VC) flows have already begun pouring into the DeFi and RWA (Real World Assets) arenas.
