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.
