Wall Street Tokenization Bill Could Unlock Multi-Trillion Dollar Market

The US Digital Asset Market Clarity Act (CLARITY Act) is awaiting a full Senate floor vote, which could unlock Wall Street's potential to tokenize financial assets. According to Citi Institute, this could supercharge the real-world asset market from its current $17 billion level to $5.5 trillion by 2030.

XRP has edged up in price, trading around $1.08 at the time of writing. This mirrors the general neutral-to-bullish outlook in the crypto market as focus shifts to the Federal Reserve's (Fed) rate decision.

The current state of Bitcoin is muted, trapped within its $58,000-$65,000 summer consolidation range due to two main drivers: the Fed's upcoming rate decision and a bill affecting cryptocurrencies.