David Schwartz, former CTO of Ripple, attributed the failure of the CLARITY Act to lobbying by the traditional financial sector. The bill fell short in the U.S. Senate, gathering 49 votes in favor and 50 against, failing to reach the required 60-vote threshold. Republican Senator Josh Hawley justified his vote against the bill by citing concerns about deposit outflows from regional Missouri banks. Schwartz accused politicians of using public concern as a smokescreen to protect bank dominance. The SEC also postponed for the 19th time the approval of Teucrium’s short XRP ETF, while XRP’s price corrected toward $1.29.
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