Trump Agrees to CLARITY Act Ethics Proposal Ahead of Senate Vote
President Donald Trump has agreed to a bipartisan ethics proposal that had been a major obstacle for the CLARITY Act, a bill aimed at regulating the cryptocurrency market. The compromise includes stronger restrictions on elected officials' crypto interests and gives state attorneys general enforcement powers alongside federal authorities.
The agreement was reached just before the Senate's procedural vote on September 15, which requires 60 votes to proceed. Ripple Chief Legal Officer Stuart Alderoty has called this vote a 'bellwether' for whether crypto market-structure legislation can move through Congress.
While Trump accepted roughly 80% of the compromise proposal, Democrats still have concerns around illicit finance, stablecoin rewards, and consumer protections. Some Republicans also have reservations about the bill.
XRP traders seem to be taking a wait-and-see approach, with the asset trading near $1.36 despite the political breakthrough. Institutional positioning has been stronger, with U.S. spot XRP ETFs attracting $18.98 million across September 8-10.