New Crypto Bill Would Exempt Altcoins in ETPs From SEC Rules

The latest draft of the Digital Asset Market Clarity Act is drawing sharp attention across Washington and Wall Street. Circulating among Senate staff this week, the proposal would grant coins such as XRP, Solana, and Dogecoin the same legal footing as Bitcoin by classifying them as non‑ancillary assets — effectively exempt from SEC securities rules if they were listed in an exchange‑traded product (ETP) by January 1, 2026.

This language marks a significant expansion from earlier drafts, which focused narrowly on Bitcoin and Ethereum. By extending recognition to other high‑volume tokens, lawmakers are signaling a willingness to codify what markets have already priced in: that certain digital assets function more like commodities than securities. The exemption hinges on ETP status, meaning only tokens already packaged into regulated investment products would qualify.

For issuers, the change could be transformative. XRP, Solana, and Dogecoin have all faced varying degrees of regulatory uncertainty, with the SEC historically reluctant to bless them as non‑securities. Under the draft, their presence in an ETP would shield them from enforcement actions tied to securities classification, reducing compliance risk for exchanges and fund managers.

Industry lobbyists are hailing the move as overdue clarity, while critics warn it could create a two‑tiered system privileging tokens with Wall Street backing. Still, the draft reflects bipartisan momentum to settle jurisdictional disputes between the SEC and CFTC, and to provide investors with a clearer framework for digital asset exposure.

Whether the provision survives markup remains to be seen. But if enacted, it would mark the first time Congress explicitly places altcoins like XRP, Solana, and Dogecoin on equal legal ground with Bitcoin in the eyes of U.S. securities law.