- Paul Atkins said Congress is close to updating financial rules for crypto, signaling regulatory momentum.
- Atkins expressed support for clarifying the jurisdictional split between the SEC and the CFTC, which could end uncertainty for XRP.
- Crypto commentator JackTheRippler described XRP as “a done deal” after Atkins’ remarks, reflecting bullish market sentiment.
- Lawmakers are considering measures like the Digital Asset Market Clarity Act and a Senate Banking Committee draft that could define asset categories and regulator roles.
- Bloomberg Intelligence analyst Eric Balchunas noted that ETF access would place a coin where most institutional investors can reach it, highlighting potential paths to spot ETFs for XRP.
Paul Atkins, a former regulator, said this week that Congress is “on the cusp of upgrading our financial markets for the 21st century,” and he voiced support for lawmakers to clarify the split between the SEC and the CFTC. His remarks came as congressional work on digital asset legislation advanced and prompted renewed market attention toward XRP.
Market commentators reacted quickly. Crypto analyst JackTheRippler called XRP “a done deal” after Atkins’ statement, arguing that clearer legislative direction and regulatory consensus would end long-running legal uncertainty around the token.
Legislative efforts discussed in Congress, including the Digital Asset Market Clarity Act, aim to create defined categories for digital assets and assign oversight to specific agencies. The Senate Banking Committee also released a lengthy draft proposal for crypto market structure, signaling coordinated movement by lawmakers.
Industry observers say the shift could move oversight away from courtroom battles and toward rulemaking between agencies and Congress. Project Crypto and other initiatives pushing for durable frameworks featured in commentary about the changing regulatory posture.
Eric Balchunas of Bloomberg Intelligence commented on institutional access, saying, “Having your coin get ETF-ized is like being in a band and getting your songs added to all the music streaming services. Doesn’t guarantee listens but it puts your music where the vast majority of the listeners are.” Analysts and investors noted that regulatory clarity would be a prerequisite for spot ETF products involving XRP.
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