in recent bipartisanship law effort towards With legal clarification in the US, the XRP community is having new discussions around it XRP position As a product.
Specifically, SMQKE, self-proclaimed researcher, recently called Note To academic research what was discussed XRP's position in finance. The paper describes XRP as a “radical form of commodity money,” adding: what XRP community see as evidence Tokens are not securities.
XRP plays two major roles in finance
For context, studyThe paper, written by Ludovico Lella of Durham University, was published five years ago in the Journal of Cultural Economy. In his research, Rella used Ripple and XRP to discuss how money functions as a technological tool and a social system. main example.
He called attention to Ripple's history since its early days as a mutual trust system., which one depended on trust between users, It has evolved into its current form as a blockchain-based payment solution focused on speed, liquidity, and efficiency. During this change, XRP will change from a community-based credit token to Bridge assets for moving money across borders.
The fundamental form of commodity money
According to Rella, XRP is a “fundamental form of commodity money” designed to behave like digital gold, a self-contained asset that holds value on its own.
XRP A Radical Form of Commodity Money
The important thing is Not dependent on intermediariescompany stock, or debt. Moreover, it exists independently, is pre-mined, and can be transferred between any two addresses without any restrictions. Lera called this idea “digital metalism.”
Rella argued that XRP is more than a financial tool because it reflects two conflicting visions of money. Specifically, one focuses on community and trust, and the other focuses on efficiency and liquidity. As a result of bridging these two ideas, XRP stands as both a technological innovation and a symbol of how money continues to evolve in modern finance.
For context, SMQKE highlighted the Durham University paper in the wake of a bipartisan bill in the U.S. Senate Agriculture Committee that seeks to resolve how digital assets fit into existing law.
Bipartisan Discussion Draft on Regulatory Clarity
It is called the bipartisan draft market structure. suggestion wants to create a clear framework that separates oversight between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).
The bill would place digital products such as XRP and Bitcoin under the authority of the CFTC, while the SEC would continue to regulate securities. Lawmakers believe the proposal could end years of confusion over how cryptocurrencies should be treated under federal law.
Within the XRP community, many see this as a major step forward. Commentator Arthur said the bill could confirm XRP's status as a digital commodity, based on a 2023 court ruling that ruled XRP is not a security.
He pointed out that XRP functions as a utility token used for payments, liquidity, and settlement, rather than as an investment in Ripple or other companies. He said the bill, in effect, put the reality to the lawrecognizes XRP as part of the CFTC's oversight rather than the SEC's.
