All crypto eyes rn are locked on those two huge events dropping next week plus the CPI inflation numbers on Friday 🖤 with some folks hyped for the FOMC meeting while others are all in on the CLARITY Act vote hitting September 15.
The XRP crew is def in that second group fr the countdown to the vote is blowing up as one of the hottest topics especially on X and Reddit.
One popular user RippleXity just spilled the tea on X about how massive the CLARITY Act could be for XRP since it might put the token at the center 😈
XRP Got the Upper Hand? 🌑
That highly anticipated bill would set up a full framework splitting crypto oversight between the SEC and CFTC. For Ripple’s native token one of those big regulatory puzzles got solved already thanks to that long painful lawsuit.
Back in March the SEC straight up called XRP a digital commodity right next to BTC ETH SOL ADA and a bunch more assets. They explained these digital commodities pull their value mainly from the network itself plus supply and demand not from some profit expectations pushed by others’ big moves 🔮
Durability Hits Different Tho 🦇
The CLARITY Act could hand over something even better long term like real staying power since current SEC and CFTC vibes can flip with new admins but actual federal law is way tougher to undo. The bill would also lock in a solid regulatory setup for digital commodity exchanges brokers and dealers while giving CFTC more power over spot markets.
In a fresh interview Ripple’s CLO called September 15 a bellwether for whether full on crypto laws can keep moving through Congress and he pushed that the bill builds a way more permanent base than just agency rules alone 💀
September 15 Ain’t the Big Win 🔪
Even tho the XRP fam is pouring hopes into that date it’s key to note the Senate won’t actually vote to pass the CLARITY Act then. Instead they’re voting on cloture for the motion to proceed with H.R. 3633 which needs 60 votes and opens the door for formal Senate review.
Failing that move could tank the bill’s chances this year and the odds have already slid from over 70% down to around 30% lately. A big law enforcement hurdle got cleared last week when the National Sheriffs’ Association went neutral but a fresh report on Monday hinted the ethics drama might be even messier 🌙
Some Republican senators now think the legislation could flop next week especially without White House help on the divide over officials profiting from the space.
Ultimately XRP stands to gain from a solid cloture vote but only in a chill modest way. The real impact shows once the bill turns into law yet if the September 15 vote bombs XRP and the whole market could crash hard 🕸️ The drama might get worse the next day if the Fed raises rates and goes full hawkish.
Just another echo from the void by iconofsin.eth 💖
