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Crypto

Senate Blocks CLARITY Act Amid Bank Lobbying Efforts

Guavy AI Editorial Team
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XRP MEW
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The US Senate blocked the advancement of the CLARITY Act on September 15, 2026, with a 49-50 vote. This setback was attributed by Ripple's Legal Chief to bank lobbying efforts.

The XRP token dropped 7.95% following the news. The bill needed 60 votes to advance and would have provided regulatory clarity for stablecoins.

Ripple's Legal Chief shared a bullish outlook for XRP, despite the setback. Meanwhile, CFTC Chair Michael Selig announced plans to develop a comprehensive regulatory framework for the crypto sector using existing statutory powers.

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