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XRP Cryptocurrency bill sparks political game in Washington
The crypto market is closely watching the evolving political situation surrounding the CLARITY Act, especially the key procedural vote the U.S. Senate is preparing for September 15. Former President Donald Trump's recent endorsement of most provisions of the bipartisan ethics agreement marks a critical moment and could ease some of the political obstacles that have hindered the bill's progress.
Progress on bipartisan ethics agreement
It is reported that Trump has basically agreed to the bipartisan ethics agreement brokered by Republican Senator Thom Tillis and Democratic Senator Ruben Gallego, and supported about 80% of it. The agreement introduces stricter restrictions, bans government officials from participating in crypto assets, and stipulates the law enforcement role of state attorneys general in working with federal agencies.
The CLARITY Act aims to clarify the regulatory framework for the U.S. crypto market, and recent negotiations have focused on ethical supervision, consumer protection, and enforcement powers. Stuart Alderoty, chief legal officer of Ripple, believes that the procedural vote on September 15 will be a critical juncture in determining how the bill will advance in Congress.
Are you facing uncertainty before the vote?
The procedural motion requires 60 votes to move forward, so narrowing the moral divide, while significant, is not a complete solution to the bill's passage. Democrats remain concerned about illegal financing, stablecoin incentives and consumer safeguards. In addition, some Republicans are also cautious about certain specific provisions.
In August this year, Gallego pointed out that he submitted ethics proposals to the White House many times, but received scant feedback. The compromise reached by Tillis and Gallego in July recommended stricter rules for crypto assets, blind trust practices and giving law enforcement powers to public officials. However, the 630-page draft of the CLARITY Act released as of September 10 did not include the finalized text of the ethics provisions.
Trump's recent concessions did not guarantee smooth passage of the bill, but significantly narrowed one of the most difficult political differences ahead of the Senate vote.
XRP price response is limited, ETF investment continues to flow in
Despite political developments, XRP prices have remained relatively stable, trading at around $1.36. Over the past 24 hours, prices have fluctuated between $1.32 and $1.43.
In contrast, the U.S. spot XRP ETF continues to see inflows, attracting a total of $18.98 million between September 8 and 10. Among them, US$12.29 million was recorded on September 9 and US$5.14 million on September 10. During the same period, Bitcoin funds experienced significant outflows.
- From September 8 to 10, the total inflow of U.S. spot XRP ETFs was US$18.98 million.
- On September 9, the inflow of XRP ETF reached US$12.29 million in a single day.
- On September 10, another US$5.14 million flowed into the XRP ETF.
Institutional investors such as Goldman Sachs, Jane Street and Millennium have been major participants in XRP ETFs. However, a Senate decision due on September 15 will not directly classify XRP as a security or commodity. Even if it is voted, the CLARITY Act will not be enacted immediately.
