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XRP According to cryptocurrency analyst JackTheRippler, Democrats have agreed to the newly revised CLARITY Act
According to cryptocurrency commentator JackTheRippler (@RippleXrpie), Democrats have agreed to the newly revised CLARITY Act. The U.S. Senate is expected to vote on the bill next week. If the rumors are true, this will change everything the community has been worried about.
Rumors that have attracted the attention of the XRP community
JackTheRippler shared the report and attached a picture of the bill's cover page and a detailed interpretation of its ethics provisions. The post immediately triggered a strong response in the community.
The Senate's closing debate vote is scheduled for September 15. The vote requires 60 votes to move forward. All 53 Senate Republicans have pledged to vote yes, which means seven Democrats must support it across the party. Rumors suggest those votes may now be guaranteed.
The core moral controversy
The ethics clause has been the focus of debate between the two parties. Senator Cynthia Lummis's Digital Assets subcommittee has released a detailed interpretation of the updated bill. The clause prohibits any covered individual, including the president, vice president, members of Congress, and federal judges, from issuing or sponsoring digital assets for consideration.
Violations will have substantial consequences. Any digital asset intermediary that knowingly lists the offending tokens will face a civil fine of up to $250,000 per day for each violation. Covered persons who violate the ban must surrender all profits and pay a fine equivalent to 10% of the consideration received or $500,000. Despite these amendments, many Democrats remain skeptical.
Reaction from the XRP community
Reaction to JackTheRippler's post was mixed. Some commentators praised the ethics clause, with some calling it "truly impressive." Others expressed the same view and praised the work behind it. However, there were also doubts, with one saying he would not believe anything until it actually happened. A clear answer will be given on September 15th.
The key bet on September 15
Senator Loomis publicly stated what is at stake. She warned that if this Congress fails to pass the bill, the next realistic opportunity for crypto market structure legislation will be postponed until 2030. The situation in the House has further increased the pressure. The Republican leadership canceled the last two weeks of the September session. Lawmakers will leave Washington by September 17, which means there is only a two-day window left after the Senate vote. If the Senate passes the revised bill, the House must approve the changes before the bill is submitted to the president.
