Financial analyst Levi has characterized the latest crypto guidance from the U.S. Securities and Exchange Commission as a major milestone for the market, declaring the update “massively bullish for crypto and $XRP.” His remarks came after the SEC published updated FAQs and guidance on September 25, 2026, addressing multiple sectors of the digital asset economy.
This document builds directly upon the historic March Interpretive Release, which was issued jointly by the SEC and the CFTC and explicitly designated XRP as a digital commodity.
Responding to the announcement on X, Levi posted, “BIG WIN FOR CRYPTO!!” He highlighted the SEC’s clarification regarding how securities laws pertain to specific cryptocurrency activities, concluding that the update stands to benefit both the broader industry and XRP.
The material was published by the SEC’s Division of Corporation Finance to offer further insights into digital assets and transactions. However, the agency emphasized that the publication reflects staff opinions rather than newly established, binding regulations.
BIG WIN FOR CRYPTO!!
SEC issues new guidance clarifying securities laws on crypto.
This is massively bullish for crypto and $XRP pic.twitter.com/mpVnM4bIDK
— Levi | Crypto Crusaders (@LeviCryptoGuy) September 28, 2026
SEC Clarifies Rules Around Functional Networks
The guidance released on September 25 focuses on blockchain networks that have reached full functionality. SEC personnel clarified that routine tasks related to securing, maintaining, operating, or upgrading a functional network do not inherently count as the essential managerial efforts evaluated during an investment-contract assessment under the Howey test.
Additionally, the SEC discussed token buybacks concerning fully functional, decentralized networks. Under the conditions outlined in the release, a token buyback does not automatically qualify as an investment contract, as the assessment can hinge on how the transaction is structured and whether external factors foster profit expectations driven by managerial actions.
The agency also addressed liquid staking receipt tokens, outlining scenarios where these tokens can represent interests tied to underlying digital commodities without automatically constituting an investment contract.
Together, these points supply developers and market participants with extra perspective on how SEC staff evaluates several operational areas that have historically suffered from regulatory ambiguity.
The Guidance Does Not Change Securities Law
While Levi hailed the update as a “BIG WIN,” his assessment represents his own viewpoint, and the SEC explicitly bounded the scope of the document.
The Division of Corporation Finance noted that its FAQs represent staff perspectives and carry no legal force or effect. The release neither amends federal securities law nor supersedes existing legal precedents. Furthermore, the SEC evaluates crypto assets and transactions on a case-by-case basis depending on the specific facts and circumstances.
Consequently, the update brings added regulatory transparency without establishing a blanket exemption for cryptocurrencies or associated enterprises.
XRP Already Has Significant Legal Precedent
Furthermore, the SEC’s recent guidance does not institute a fresh, XRP-specific legal ruling. Instead, the agency addressed general digital asset activities rather than releasing a new determination focused on XRP.
XRP already possesses substantial legal precedent stemming from the SEC’s enforcement action against Ripple. On July 13, 2023, Judge Analisa Torres determined that Ripple’s programmatic sales of XRP on digital asset exchanges did not meet the criteria of the Howey test under the specific conditions of the case, though she arrived at a contrasting ruling regarding certain institutional sales.
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— TimesTabloid (@TimesTabloid1) June 15, 2025
That distinction remains crucial when evaluating Levi’s assertion that the SEC update constitutes a landmark shift specifically for XRP.
Levi’s commentary frames the updated SEC guidance within an optimistic regulatory narrative for both the crypto market and XRP. While the September 25 update sheds light on how SEC personnel view select digital asset operations, it does not independently grant XRP any novel legal status.
As a result, the development enriches the pool of regulatory guidance available to the sector while ensuring that the legal standing of individual tokens continues to rely on their unique circumstances.