As new developments regarding cryptocurrency regulations in the US continue unabated, Evernorth, a treasury firm focused on XRP, drew attention to the recent decision of the Commodity Futures Commission (CFTC).
The company stated that this development could be a significant milestone, particularly for self-custody solutions.
Evernorth’s statement highlighted a significant step taken last week, overshadowed by the Securities and Exchange Commission’s (SEC) commodity classification decision. According to the statement, the CFTC issued a “letter of inaction” for the first time to a self-custody crypto wallet software provider. The company summarized the fundamental principle behind this decision as, “If you don’t hold client funds, you’re not a financial intermediary.” This approach, it was stated, clarifies the distinction between crypto infrastructure providers and traditional intermediaries.
Evernorth also argued that this framework aligns with XRP’s design philosophy. The statement noted that transactions in the XRP ecosystem occur directly on the chain, rather than through a central counterparty, suggesting that this structure could provide regulatory advantages.
The company argued that XRP was “perfectly suited” for this development.
*This is not investment advice.
