Lummis says Clarity Act floor vote likely before August; bill — which would classify XRP as a commodity, assign SEC/CFTC jurisdiction and add BRCA protections for non‑custodial devs — could ‘unlock’ a $2T market

first published 2026-05-20T21:55:00Z

The Senate Banking Committee voted 15-9 to advance the Clarity Act on May 14. Ripple CLO Stuart Alderoty called the outcome “monumental,” saying the bill protects about 67 million U.S. crypto holders, assigns regulatory jurisdiction (SEC vs CFTC) over specific digital assets, and would formally classify named tokens such as XRP as digital commodities. Standard Chartered estimates the legislation could unlock $4–8 billion in additional XRP ETF inflows. The bill still faces significant hurdles: 60 Senate floor votes to overcome a filibuster, reconciling committee and House texts, and the president’s signature; supporters warn timing is sensitive before campaign season.

AI Analysis

Facts: Senate Banking Committee advanced the Clarity Act 15-9; Alderoty called it “monumental” and said it protects ~67 million holders; bill would assign SEC vs CFTC jurisdiction and formally classify named tokens such as XRP as commodities; Standard Chartered projects $4–8B in additional XRP ETF inflows. These facts reduce legal uncertainty (bullish for XRP) but the bill still requires multiple legislative steps, limiting immediate market action.

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