The US Senate rejected the CLARITY Act on Tuesday, with a vote of 49 to 50, falling short of the 60 votes required for passage. The bill aimed to establish federal market rules for the cryptocurrency industry. Previously, in July 2025, the House had approved the same legislation with a vote of 294 to 134, supported by 78 Democrats.
Ripple’s chief legal officer, Stuart Alderoty, stated that the legal status of XRP remains unchanged. He cited a 2023 federal court ruling that determined XRP sales on exchanges were not securities transactions, as well as a March joint interpretation by the SEC and CFTC that classified XRP as a digital commodity.
MicroStrategy maintains that Bitcoin has possessed regulatory clarity in the US for years. The company currently holds 845 050 BTC, acquired for a total of $63,73 billion, representing an average cost of $75 412 per coin. Following the Senate vote, Bitcoin traded near $76 206, approximately 1% above the company's acquisition cost.
The legislative effort faced opposition from 18 state attorneys general who urged Congress to reject the bill. Ripple CEO Brad Garlinghouse criticized the outcome, attributing the failure to political motivations. Industry participants, including Grayscale, now expect the SEC and CFTC to continue shaping the regulatory landscape in the absence of congressional action.
