XRP gains formal legal status in the US, Japan and Russia, with two determinations in the past four months
XRP now has a defined legal status across three major jurisdictions: the United States, Japan and Russia. In the US, it is described as a “digital commodity” in a joint SEC and CFTC release, while Japan classifies it as a financial product under the FIEA and Russia treats it as legal property for commercial and cross-border use. Two of these determinations were made within the past four months. Bhutan, Georgia, Montenegro and Palau are also building national currencies on Ripple’s platform.