The Senate Banking Committee advanced the Clarity Act 15-9 on May 14, marking a bipartisan result that lifts the Digital Asset Market Clarity Act toward a full Senate floor vote. According to reports from Crypto.news, every Republican voted yes, alongside two Senate Democrats despite opposition from Elizabeth Warren. This represents the first time a comprehensive crypto market structure bill has cleared the Senate Banking Committee with cross-party support, establishing significant momentum for the legislation.
Ripple CLO Stuart Alderoty called the outcome a 'monumental outcome' and emphasized the bill's consumer protection focus. As reported by Crypto.news, Alderoty stated that the Clarity Act isn't about protecting an industry but protecting 67 million American crypto holders who deserve clear rules when participating in the multi-trillion dollar crypto economy. The legislation would establish which regulator — the SEC or the CFTC — has jurisdiction over specific digital assets, ending the enforcement-by-ambiguity approach that has defined US crypto oversight since 2017.
The bill would formally classify named tokens including XRP as digital commodities, removing legal uncertainty that has kept institutional capital on the sidelines. According to Standard Chartered analysts cited by Crypto.news, the legislation could unlock $4 to $8 billion in additional XRP ETF inflows alone. This classification would provide clarity for institutional investors who have been hesitant to enter the crypto market due to regulatory ambiguity.
Despite the committee advancement, the bill still requires 60 Senate floor votes to clear a filibuster, followed by reconciliation between the Banking and Agriculture Committee versions before alignment with the House text from July 2025. As reported by Crypto.news, Ripple CEO Brad Garlinghouse has warned that the bill's chances drop sharply if lawmakers fail to act before campaign season. Senators Lummis and Moreno have both warned that failure in 2026 means the next window is 2030.
