CoinDesk
The Senate Banking Committee approved the Digital Asset Market Clarity Act in a 15-9 bipartisan vote on Thursday, sending the first major crypto market-structure bill of the cycle toward a full Senate floor fight. Bitcoin pushed back above $81,000 on the news, XRP led the majors with a 4.5% gain to $1.49, and dogecoin added 3% to $0.1159 — gains that held even as broader risk assets sold off on President Trump's comments that the US does not need to reopen the Strait of Hormuz.
Why it matters
The vote was the first bipartisan breakthrough on US crypto market structure in months. Chairman Tim Scott pulled in two Democratic votes by admitting amendments he had earlier rejected, securing the 15-9 margin after hours of partisan sniping. Ranking Democrat Elizabeth Warren objected to the procedural shift — "the deal you like, it's not the deal I like" — but the bill now moves to a merger with a parallel Senate Agriculture Committee version, then a full Senate vote and the House. Several substantive fights remain, including law-enforcement access and an ethics provision several Democrats have tied to broader support.
The bill's core mechanic — separating payment stablecoins from investment assets — is the line that matters most for XRP. Renna Ba, head of ecosystem at Morph, said the structure gives the global payments industry "the legal foundation it has needed to build with confidence." For XRP, which has carried the SEC overhang from the Ripple case since 2020, that reclassification is a direct addressable-market unlock, not a vibes-based rally.
Market impact
Bitcoin traded at $81,055 in Asian hours, up 2.3% over 24 hours and 1.9% over the prior seven days, recovering the level it had slipped below on Wednesday's hot PPI print. XRP's weekly run now sits at +7.6%, dogecoin at +8.9%, BNB gained 2% to $681, and solana climbed 2% to $91. ZX Squared Capital's CK Zheng framed the move as part of a broader thesis that BTC's Q1 bottom is in, noting the 50% drawdown from peak is "notably shallower than the ~78% decline seen during the 2022 cycle" and pointing to Strategy's STRC preferred — $8.5B of incremental institutional bid at an 11.5% yield.
Frequently asked questions
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What did the Senate Banking Committee vote on?
The committee approved the Digital Asset Market Clarity Act in a 15-9 bipartisan vote on Thursday. It is the first major US crypto market-structure bill to clear the panel and now heads to a merger with a parallel Senate Agriculture Committee version before a full floor vote.
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Why is the Clarity Act bullish for XRP specifically?
The bill separates payment stablecoins from investment assets — a reclassification that removes a structural regulatory overhang on XRP's payments use case. XRP has carried SEC case uncertainty since the Ripple suit, and clearer market structure is a direct addressable-market unlock for the token.
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How did the broader crypto market react to the vote?
Bitcoin pushed back above $81,000, XRP gained 4.5% to $1.49 (+7.6% weekly), dogecoin added 3% to $0.1159 (+8.9% weekly), BNB rose 2% to $681, and solana climbed 2% to $91. The rally held even as risk assets sold off on macro headlines.
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What macro headwinds hit crypto the same day?
President Trump said the US does not need to reopen the Strait of Hormuz, lifting Brent crude. Japan's 10-year yield jumped 7 bps on hot domestic PPI, the US 10-year rose 4 bps to 4.52%, and the dollar extended a five-day haven run. Crypto cut through the risk-off crosscurrent.
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What unresolved issues remain before the bill becomes law?
The bill must merge with a Senate Agriculture Committee version, then pass a full Senate vote and the House. Outstanding fights include law-enforcement access provisions and an ethics clause several Democrats have tied to broader support.
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