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.
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.
Warren’s XRP Banking MoveAccording 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.
In that framing, Warren’s effort is characterized less as preventing new access and more as attempting to reverse momentum that is already moving through the system.
‘Anti-DeFi’ CLARITY Act AmendmentsAccording to that tracking effort, the group says the proposals could damage decentralized finance (DeFi) technology, its users, and developers, and is urging supporters to lobby senators ahead of tomorrow’s markup.
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.
With the Senate Banking Committee set to mark up the CLARITY Act on Thursday, negotiators are watching not only what gets added or removed, but also whether the final shape of the amendments will allow the bill to move forward without another round of disruption.
At the time of writing, XRP was trading at around $1.41, having recorded a 1.4% loss over the previous 24 hours. This amid a broader crypto market retracement, which saw Bitcoin (BTC) drop to $78,000 once again.
Featured image created with OpenArt, chart from TradingView.com
