Analyst Bill Morgan argues that XRP may already satisfy the CLARITY Act’s requirements to be classified as a digital commodity. The law requires that no issuer owns 20% or more of a digital commodity, and more than half of XRP’s total supply has been distributed outside of Ripple and related parties. Ripple controls approximately 4.74 billion XRP in operational wallets, while over 32 billion remain in escrow. The bill recently faced a setback as the Senate postponed a floor vote, but Justin Slaughter, Paradigm’s vice president of regulatory affairs, believes the legislation is not dead yet.
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