Ripple's CLARITY Act Fails, Leaving US Crypto Market in Regulatory Limbo

Ripple has been fighting for years to gain clarity on the regulatory status of digital assets in the US. The company argued that crypto companies couldn't operate indefinitely under regulatory uncertainty.

However, the CLARITY Act failed to advance in the Senate on September 15, despite being a crucial step towards creating a broader market structure for digital assets.

Ripple called the vote a 'tremendous missed opportunity' and argued that the bill could have established clearer rules for consumers and the digital-asset industry.

The company already survived one of crypto's defining regulatory battles, the SEC lawsuit over XRP sales in 2020. The lawsuit turned the question of XRP's legal treatment into a years-long court fight.