Abstract
This paper offers an in-depth exploration into the intricate world of decentralized digital assets (DDAs), shedding light on their categorization as currencies, commodities, or securities. Building on foundational cases such as SEC v. Howey, the analysis delves into the current controversies surrounding assets like XRP and LBC, exploring the nuances in their classification. By highlighting the challenges of defining categories of DDAs within traditional legal frameworks, this study emphasizes the need for a simple taxonomy that encapsulates the dynamism of digital currencies while permitting flexibility. A proposed framework aims to simplify the categorization process while respecting recent jurisprudence, ensuring regulatory clarity for developers and users of DDAs.
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