XRP already compliant with CLARITY Act as 60-vote Senate test looms

Kenny Nguyen, a crypto commentator, said Ripple, XRP and the XRP Ledger already meet the criteria set forth in the CLARITY Act, as the bill faces a Senate floor vote with nine working days before the July 4 recess.

"Ripple, XRP and XRPL have been built with regulatory compliance in mind, and they already satisfy the standards the CLARITY Act would codify," Nguyen said in a social media post.

The Digital Asset Market Clarity Act cleared the Senate Banking Committee 15-9 on May 18 and was placed on the Senate Legislative Calendar on June 1, making it formally eligible for floor consideration. The bill still needs 60 votes to overcome a filibuster, with unresolved disputes over ethics rules, DeFi oversight and anti-money laundering provisions. A coalition of more than 50 gaming associations, tribal governments and labor unions submitted a letter June 16 demanding explicit language banning prediction markets from offering sports and casino-style event contracts.

If the CLARITY Act passes, Ripple and XRP could benefit from being positioned as already compliant, potentially attracting institutional investment and setting a regulatory standard. Non-compliant projects could face delisting or legal challenges. The Senate returns from recess in mid-July, and the midterm campaign recess begins in early October, leaving roughly 18 working weeks of available legislative time.

Orest Gavryliak, chief legal officer at DeFi protocol 1inch, said the bill's most immediate benefit is establishing trust through government-backed standards. "Consumers wouldn't need to understand DeFi; they could rest assured that they are dealing with a regulated industry with government oversight," he said. Gavryliak acknowledged the bill is "relatively light in terms of nuanced consumer protections," with detailed rulemaking on fraud recourse, disclosure standards and liability expected to follow from the regulatory bodies it mandates.

Markus Levin, co-founder of blockchain data network XYO, said the July 4 deadline matters less than the shift it represents. "A year ago, crypto regulation was still mostly a partisan fight," he said. "Lawmakers, regulators and financial institutions are now converging at the same point." David Nage, managing director and portfolio manager at Arca, estimated in a recent report that crypto market structure legislation is about 80% to 85% complete.

The gaming coalition's letter adds pressure to a bill already under structural strain. The American Gaming Association, Indian Gaming Association and UNITE HERE argue that prediction market platforms have engineered the largest expansion of gambling in US history over the past 18 months without state authorization. Senator John Hickenlooper of Colorado said the CFTC has "literally no experience in regulating sports betting."

Outgoing House Agriculture Subcommittee Chairman Dusty Johnson warned the window for passing the CLARITY Act is closing. Speaking on the Crypto in America podcast, Johnson said failure to move the bill before the August recess could shelve crypto market structure legislation "for far too long." He identified the DeFi provisions as the principal sticking point between the chambers and said the Senate "will need to come the House way a little bit" for a final bill to pass.

Treasury Secretary Scott Bessent has warned publicly that regulatory delay is pushing digital asset development toward Dubai, Singapore and Abu Dhabi, which are actively competing for US crypto capital with licensing frameworks already in place.

This article is for informational purposes only and does not constitute investment advice.