Circle · Elizabeth Warren · CLARITY Act · US Senate · Federal Reserve (FED) · Bitcoinist
Warren Files 40 CLARITY Act Amendments To Keep XRP Out of US Banking System, Expert Reveals
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As the Senate Banking Committee’s long-awaited markup of the CLARITY Act nears, XRP has reportedly become a focal point of a wave of amendments being prepared for the key vote on Thursday.
Key facts
- At the time of writing, XRP was trading at around $1.41, having recorded a 1.4% loss over the previous 24 hours
- Terrett also reported that after more than 100 amendments were submitted to the CLARITY Act draft by members of the Senate Banking Committee, the DeFi Education Fund (DEF) is monitoring what it describes as “anti-DeFi amendments
- A post from market expert and crypto researcher Bull Winkle claims Warren “stayed up all night” on Tuesday drafting 40 amendments intended to block XRP from the US banking system
- In DEF’s description, the DeFi-targeted amendments in the CLARITY Act appear to come from Democratic senators including Cortez Masto, Andy Kim (NJ), Chris Van Hollen, Elizabeth Warren, and Jack Reed
Summary
The bill—described by participants as a crypto market structure package that has already been delayed by more than five months—is widely viewed by negotiators as close to a version they want to move forward. Even so, some senators, including well-known crypto critic Elizabeth Warren, are signaling they plan to keep pushing changes into the draft. A post from market expert and crypto researcher Bull Winkle claims Warren “stayed up all night” on Tuesday drafting 40 amendments intended to block XRP from the US banking system. According to the post, the most consequential proposal would limit the Federal Reserve’s (Fed) ability to grant “master accounts” to crypto firms—an approach the amendments reportedly aim to apply broadly, including to institutions and companies such as Ripple, Circle, Anchorage, and Custodia Bank.