The US Senate is set to vote on September 15 on the procedural motion for the CLARITY Act (H.R.3633), a bill aimed at establishing a regulatory framework for cryptocurrencies split between the SEC and the CFTC. In March, the SEC explicitly classified XRP among digital assets considered commodities, alongside BTC, ETH, SOL, and ADA. The bill’s chances of success have dropped from over 70% to approximately 30% in recent months. Ripple described September 15 as a « bellwether » for crypto legislation in Congress. If the vote fails, XRP and the broader market could fall significantly, especially if the Fed raises rates the following day with an even more hawkish stance.
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