Ripple, Strategy Say XRP and Bitcoin's U.S. Legal Status Unchanged After Senate Blocks CLARITY Act

Ripple and Strategy (formerly MicroStrategy) told investors that the legal outlook for XRP and Bitcoin (BTC) remains intact after the U.S. Senate stopped the CLARITY Act on Tuesday. The measure, which would have codified federal market rules for crypto, failed by a 49–50 vote, well short of the 60 votes required. Market volatility followed the vote, though the reaction faded quickly. Ripple's chief legal officer, Stuart Alderoty, argued that key milestones predating the Senate vote already anchor XRP's status. He pointed to a 2023 federal court decision finding that XRP sales on exchanges were not securities transactions, while also holding that Ripple's institutional sales violated securities laws. Alderoty also cited a March interpretation in which the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) included XRP among 16 assets described as "digital commodities." "Don't forget – Ripple and XRP stand on settled ground. The 2023 federal Court ruling established XRP is not a security. And in March the SEC and CFTC issued a joint interpretation naming XRP a digital commodity," he wrote on X. Strategy delivered a similar message for Bitcoin, saying U.S. regulatory and legal clarity has been in place for years. The company reported holdings of 845,050 BTC acquired for $63.73 billion, implying an average cost of $75,412 per coin. Bitcoin traded near $76,206 after the vote, leaving Strategy's position roughly 1% above its cost basis. The bill's collapse underscores how quickly Democratic support eroded. The House approved the same text in July 2025 by a 294–134 margin, with 78 Democrats voting in favor. Fourteen months later, it failed in the Senate. House Majority Whip Tom Emmer singled out Senator Kirsten Gillibrand, saying she spoke favorably about the industry at a March panel before voting against the bill. Ahead of the Senate vote, 18 state attorneys general urged Congress to reject the legislation. Chainlink warned that every month without clear rules pushes builders overseas. Grayscale said the sector continues to make "remarkable progress" through ongoing work by regulators such as the SEC and CFTC, a view that puts renewed focus on the two agencies to provide guidance Congress did not. Ripple CEO Brad Garlinghouse said the company's team had worked intensely to pass the legislation, adding that "the politics of the democrats (the anticrypto army) was elevated over good policy."