"The Banking Committee has roughly two weeks to schedule a vote before midterm politics takes over the Senate calendar, and every major obstacle that stalled the bill twice this year has been cleared."
"Treasury Secretary Bessent published a Wall Street Journal op-ed backing the bill the same day, and both the SEC and CFTC chairs confirmed they're ready to implement it the moment Congress acts."
"For XRP, the bill would make its commodity classification permanent federal law-not just a SEC opinion that a future administration could reverse."
The Senate Banking Committee is back in session after a two-week recess, with the CLARITY Act markup window open. Major obstacles that previously stalled the bill have been resolved, including endorsements from Coinbase's CEO and Treasury Secretary Bessent. Both SEC and CFTC chairs are ready to implement the bill. Chairman Tim Scott aims for a markup in late April, as the bill's passage is crucial for XRP's commodity classification, which would solidify its status under federal law.
Read at 24/7 Wall St.
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