US Senate Fails to Approve CLARITY Act
On September 15, the US Senate did not receive the necessary support for the CLARITY Act, which aims to clarify regulations for crypto companies. Ripple assessed the voting outcome as a missed opportunity for consumers and the digital asset sector. The CLARITY Act aimed to delineate the boundaries between securities and commodities regulations and grant the CFTC a broader role. However, the voting, which fell below the 60-vote threshold, reignited discussions about the division of authority between the SEC and CFTC. For XRP investors, the debate is no longer limited to whether XRP is considered a security; how exchanges and other crypto companies operate under US law has also gained importance. Following the vote, XRP lost value, while XRP ETFs in the US continued to hold approximately 1.1 billion tokens. This situation highlighted the tension between institutional investment interest and regulatory uncertainty. The outcome in the Senate has not stalled US crypto policy; the SEC has brought forth a regulatory proposal called Regulation Crypto Assets. However, there is still no single comprehensive market structure law that has been accepted.
-- Price
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