Senator Bill Hagerty delivered an endorsement of the CLARITY Act, declaring 'We will get it done because we have to get it done,' generating optimism across the XRP community. Hagerty identified timing as the primary challenge facing the legislation, not a lack of political support. The statement follows Congress passing the GENIUS Act, demonstrating bipartisan momentum for digital asset legislation. The CLARITY Act seeks to establish a regulatory framework defining which digital assets fall under Securities and Exchange Commission (SEC) jurisdiction and which are regulated by the Commodity Futures Trading Commission (CFTC). The U.S. regulatory landscape for cryptocurrency remains fragmented despite Ripple securing a court victory establishing XRP is not inherently a security in secondary market sales.
Hagerty Declares CLARITY Act Will Pass
According to Hagerty, the primary challenge is timing, not a lack of political support. His confidence comes on the heels of Congress passing the GENIUS Act, proving lawmakers can move major digital asset legislation when bipartisan momentum exists. Hagerty's remarks mark a shift in the conversation from whether the CLARITY Act should pass to whether Congress can overcome procedural delays and a packed legislative calendar.
CLARITY Act Defines SEC and CFTC Jurisdictional Boundaries
The bill seeks to establish a regulatory framework by clearly defining which digital assets fall under the jurisdiction of the Securities and Exchange Commission (SEC) and which are regulated by the Commodity Futures Trading Commission (CFTC). Such clarity would help eliminate years of uncertainty that have slowed innovation and institutional participation across the crypto industry.
Ripple Court Victory Established XRP Secondary Market Status
Ripple secured a landmark court victory establishing that XRP is not inherently a security in secondary market sales. The broader U.S. regulatory landscape remains fragmented. The CLARITY Act could provide exchanges, financial institutions, developers, and investors with the legal certainty needed to build, trade, and integrate XRP-powered solutions.
Lummis Backs Federal Reserve Master Account Framework
Senator Cynthia Lummis backed the Federal Reserve's proposed skinny master account framework. Lummis argued that any institution operating within the law, whether a bank, fintech, or crypto company, should have equal access to the U.S. payment system. 'Our payment system is a public good,' Lummis said, emphasizing that regulators should promote innovation rather than create unnecessary barriers for compliant businesses. This approach aligns with Ripple's call for clear, technology-neutral regulation. Greater access to the U.S. financial system could accelerate the adoption of blockchain payments, stablecoins, tokenized assets, and enterprise applications built on the XRP Ledger.
FAQ
What did Senator Hagerty say about the CLARITY Act?
Senator Bill Hagerty declared 'We will get it done because we have to get it done' regarding the CLARITY Act. He identified timing as the primary challenge facing the legislation, not a lack of political support.
What does the CLARITY Act aim to establish?
The CLARITY Act seeks to establish a regulatory framework by clearly defining which digital assets fall under the jurisdiction of the Securities and Exchange Commission (SEC) and which are regulated by the Commodity Futures Trading Commission (CFTC).
What was Ripple's court victory regarding XRP?
Ripple secured a landmark court victory establishing that XRP is not inherently a security in secondary market sales, though the broader U.S. regulatory landscape remains fragmented.
