CLARITY Act Progress Hinges on Ethics Language as XRP Price Stalls Near $1.12
The CLARITY Act draft has added an ethics rule, which is now a point of contention for Senate leaders. Democrats are pushing for stronger limits on senior officials' involvement in cryptocurrencies, while Republicans have proposed a more lenient approach. The bill's chances of passing before the August 7 recess hang in the balance.
The addition of an ethics provision to the CLARITY Act draft has put pressure on Senate leaders to reach a compromise by July 30. If they succeed, a floor vote could take place as early as the week of August 3. However, if negotiations stall, the bill will likely be pushed beyond the summer recess.
XRP price action is closely tied to the CLARITY Act's progress, with investors watching for any signs of increased institutional participation. The token has been trading near the $1.10 area, with buyers defending the $1.09 zone and sellers pushing against the $1.12 level.