Ripple Braces for Regulatory Storm as CLARITY Act Passage Rate Plummets

The crypto community is bracing for a legislative storm as the CLARITY Act, once seen as a beacon of hope, struggles to gain traction. According to Galaxy Research, the bill's passage rate has plummeted from 75% to just 10%, leaving Ripple and its peers to navigate treacherous waters.

Alex Thorn, lead researcher at Galaxy, has chronicled the bill's rocky journey through the Senate Banking Committee. Despite initial momentum in May, the CLARITY Act now faces a critical test as the Senate reconvenes on September 14, with just two to three weeks left for debate and support.

Ripple is not standing idly by, however. The company is simultaneously pursuing an OCC charter, which would provide a vital lifeline of federal legitimacy regardless of the bill's fate. Senator Bernie Moreno asserts that bipartisan commitment exists, despite the uncertainty surrounding the CLARITY Act, while Senator Cynthia Lummis warns about potential ramifications for stablecoin regulations.