The U.S. Senate is about to conduct a procedural vote on the CLARITY bill, and political disagreements over conflicts of interest in encryption have eased before the vote. Trump has accepted most of the contents of the bipartisan ethical compromise, which reduces one of the most difficult obstacles in the advancement of the bill.
Accepts about 80% of the compromise proposals
According to the Associated Press, this proposal was negotiated and put forward by Republican Senator Thom Tillis and Democratic Senator Ruben Gallego. Trump accepted about 80% of its content.
The plan includes tightening restrictions on elected officials holding crypto assets and granting state attorneys general the role of co-enforcing laws with federal agencies. Previously, Democrats have regarded these ethical provisions as one of the main obstacles to the advancement of the bill.
Procedural voting will take place on September 15th.
This progress occurred before the procedural vote in the Senate on September 15th. The related motion requires 60 votes to move the bill to the next stage.
Ripple Chief Legal Officer Stuart Alderoty Previously, it was said that this vote would become an important signal to observe whether legislation to reform the structure of the US crypto market could continue to advance. However, Trump's concession does not mean that the bill is guaranteed to pass.
Currently, the Democratic Party still has concerns regarding illegal financing, stablecoin incentive mechanisms, and consumer protection, and some Republican members also have reservations. However, before the vote, one of the most sensitive political controversies has significantly narrowed down.
XRP remains around $1.36
The market reaction was relatively stable. At the time of the report, XRP was trading at $1.36, with a 24-hour fluctuation range of about $1.32 to $1.43.
However, institutional funds are still flowing into US spot XRP ETF. From September 8th to 10th, such products recorded a total net inflow of 18.98 million US dollars, with 12.29 million US dollars on September 9th and 5.14 million US dollars on September 10th.
In contrast, Bitcoin funds experienced outflows of hundreds of millions of dollars during the same period, indicating a divergence in capital preferences. The report also mentioned that Goldman Sachs, Jane Street, and Millennium are among the more prominent institutions holding XRP ETF.
Additional information:Even if the procedural vote in the Senate passes this time, it does not mean that the securities or commodity attributes of XRP will be finally defined on that day, nor will the CLARITY legislation itself come into effect immediately.
