XRP
US Senate Prepares for Procedural Vote on Bipartisan CLARITY Act
Crypto industry leaders and legal analysts dispute the prospects of landmark US market structure legislation ahead of a pivotal Senate ballot.
The US Senate is set to vote on whether to advance the CLARITY Act, amid conflicting reports regarding its political viability. Former federal prosecutor Renato Mariotti stated that congressional contacts view the bill as inactive, whereas policy figures from Coinbase and the Solana Policy Institute cite ongoing bipartisan engagement and support.
The drafted legislation incorporates 250 pages of Democratic proposals, limits on presidential crypto dealings, and followed discussions involving executive leadership from Ripple, Coinbase, and Chainlink alongside regulators. Passing the procedural vote requires a 60-vote threshold to proceed toward final enactment.
Under the bill's provisions, Bitcoin trading platforms would come under direct CFTC oversight, while tokens facing historical regulatory ambiguity, including XRP and Ethereum, would receive a dual-track framework defining paths out of securities categorization. Failure to pass the measure would leave oversight to existing statutes, judicial rulings, and state authorities.
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