XRP holders face a pivotal deadline today as the CLARITY Act, the biggest piece of crypto legislation in years, remains stuck in the Senate without a floor vote despite clearing committee more than two months ago.
The Digital Asset Market Clarity Act would cement XRP's commodity status into permanent federal law, replacing a reversible SEC and CFTC interpretation that institutional investors cannot rely on for the long term. The bill passed the House 294-134 in July 2025 and cleared the Senate Banking Committee 15-9 in May 2026, but has sat on the Senate calendar since June 1.
Passage requires 60 votes. Republicans hold 53 seats but are expected to lose the support of senators Josh Hawley and Rand Paul, meaning seven to nine Democratic votes are needed. Only about two are currently secured. Missing the August 7 recess deadline could push crypto legislation to 2030, according to analysts. Polymarket is pricing the odds of passage this year at just 43 percent [1].
Three disputes are holding up a floor vote: an ethics row over Senator Elizabeth Warren's request that President Trump disclose his personal crypto earnings, a provision shielding DeFi developers from money-laundering rules, and a temporary ethics rule that critics say favours crypto industry insiders.