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Following
HBAR 
XLM 
XRP September 15 may advance U.S. market rules covering digital assets, banking, custody, payments, lending and transactions
XRP, XLM and HBAR have appeared in federal digital goods discussions before lawmakers consider broader market structure rules. The coverage of institutional activities on these three networks includes stablecoins, tokenized assets, custody, payments, collateral, and settlement systems. XRP, XLM and HBAR are entering a high-profile regulatory phase.
Senate vote puts regulatory framework in focus
The September 15 Senate vote is seen as the next regulatory checkpoint. Relevant analysis puts the digital asset market structure at the heart and links the measure to banking involving blockchain-based financial services. According to information, the House of Representatives previously passed the legislation with 294 votes in favor and 134 votes against, of which 78 Democrats supported the House of Representatives move. In addition, the Senate Banking Committee advanced its legislative proposal with a vote of 15 to 9.
The Senate vote is still a procedural step, not a final passage of legislation. If the vote is successful, the Senate process will continue; if it fails, the outcome of the negotiations and legislative timetable will remain in the balance. Relevant comments pointed out that the CLARITY Act faces political differences, especially the ethics clause, and other negotiation matters are also closely related to the progress of legislation.
XRP, XLM and HBAR share regulatory concerns
Market analysis connects the regulatory debate with XRP, XLM and HBAR. Relevant content points out that the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) listed it as an example case of digital commodities. This positioning allows the three networks to be included in broader policy discussions.
For XRP, relevant materials mention payments, RLUSD, tokenized assets, and custody services, and cite the lending and collateral markets that have developed around XRPL. Institutions such as BNY, DBS, Franklin Templeton and Aviva Investors were mentioned as participants.
Stellar's part focuses on real-world asset (RWA) and stablecoin activity. Data shows that the RWA scale on the Stellar network has exceeded US$3 billion, with 10.7 million active accounts, and the total amount of stablecoin transfers reaching US$11.4 billion. The information also mentions Franklin Templeton's BENJI project and the planned DTCC connection. Bank of America, PricewaterhouseCoopers (PwC) and the Stellar Development Foundation are testing customized stablecoin offerings. XLM is used to pay for network fees and meet resource needs.
Institutional infrastructure of the three major networks is expanding
Hedera represents another path into the institutional realm through tokenization of assets and collateral. According to reports, Arax has hosted more than 100 tokenized assets on the Hedera network, involving a total asset value of more than US$300 million. Examples include State Street, Fidelity International, Legal & General and Aberdeen. Lloyds Banking Group, Aberdeen and Archax are associated with tokenized collateral. The post also quoted the number of HBAR held by Canary and its pledge status.
The broader view is that regulation is closely linked to the financial infrastructure being developed. These three networks have their own characteristics in terms of payment, tokenization, custody and settlement through different ecosystems. The multiple institutions mentioned in the post seem to be involved in the construction of multiple networks at the same time.
According to the market screenshots provided, the current XRP price is approximately US$1.37. This real-time market data coexists with broader regulatory discussions. The post also identified October 27 as another key date in the agency's narrative.
