CLARITY Act Advances: XRP Classified as Commodity in Secondary Markets Under Latest Draft
The CLARITY Act's cloture vote moved forward this week, with the latest draft of the legislation explicitly classifying XRP as a crypto commodity in secondary markets, regardless of Ripple's holdings. Legal analysts note this would be a significant shift in how XRP is treated under U.S. law. The bill's progress represents a concrete regulatory development for XRP holders and the broader crypto market.
A cloture vote on the CLARITY Act took place, marking a procedural step toward advancing the legislation in the U.S. Congress. The outcome of this vote has direct implications for the regulatory status of XRP and the broader digital asset market.
Under the most recent draft of the bill, XRP would be designated a crypto commodity in secondary markets. Notably, this classification would apply regardless of the size of Ripple's XRP holdings, a point that legal observers have highlighted as meaningful for long-running debates about XRP's regulatory status.
The legislation, if passed, would represent one of the first times a man-made digital commodity has been formally introduced into U.S. financial market classifications. The distinction between commodity and security status has significant legal and market implications, affecting how XRP can be traded, custodied, and offered to institutional and retail participants.
Multiple independent sources tracked the vote closely, noting that ongoing negotiations and reported DC insider commentary suggest the legislative path remains active but uncertain. The ultimate passage of the bill is not guaranteed, and observers are monitoring subsequent procedural steps.
Key facts
- •CLARITY Act cloture vote occurred, advancing the legislative process
- •Latest draft classifies XRP as a crypto commodity in secondary markets
- •Classification applies regardless of Ripple's XRP holdings
- •Legal analysts flagged the commodity designation as significant for XRP
- •Bitcoin maximalists expected to oppose the commodity classification for XRP
- •Bill passage is not yet confirmed; negotiations are ongoing