The CLARITY Act, a proposed bill aiming to define the regulatory landscape for digital assets in the United States, has gained prominent support from major financial institutions. Goldman Sac
The CLARITY Act, a proposed bill aiming to define the regulatory landscape for digital assets in the United States, has gained prominent support from major financial institutions. Goldman Sachs CEO David Solomon and multinational investment giant Fidelity have both called on the Senate to approve the legislation, highlighting its significance for the industry’s future.
Currently, the CLARITY Act has secured 51 confirmed votes in the Senate, but needs an additional 9 Democratic Senators to cross the 60-vote threshold required for passage. Patrick Witt, one of the bill’s leading advocates, acknowledged Senate Majority Leader John Thune’s expectation that the bill would not reach the floor before August but remained hopeful that momentum could build sooner.
Witt argued that it is unusual to expect 10 Democrats to commit ahead of a key vote, pointing out that such negotiation tactics have characterized Democratic approaches throughout the legislative process.
Supporters of the CLARITY Act believe that some Democratic senators who now express reservations previously voiced similar concerns about the Genius Act, but ultimately voted in favor after rounds of negotiation and concessions.
Senator Gallego, for example, has recently voiced opposition to the bill, yet during debate on the Genius Act, he also sought additional time before eventually backing the final version. This pattern suggests the possibility of last-minute changes in position when legislative stakes are high.
Senate Majority Leader John Thune has committed to bringing the bill to a vote on the Senate floor. Anthony Scaramucci, founder of the investment firm SkyBridge Capital, remarked that if the CLARITY Act is brought to the floor, its passage appears likely, noting the political implications for younger Democratic senators wary of opposing the cryptocurrency sector ahead of the next election cycle. Former Congressman Patrick McHenry added that “it’s sort of when, not if.”
Cryptocurrency analyst Lark Davis commented on the muted response from XRP’s price despite the legislative attention. Davis explained that early holders of XRP, some of whom have waited several years, are selling into institutional demand created by ETF inflows. This dynamic means that while new capital is entering the market, it is offset by longtime holders exiting, keeping the price relatively stable despite increased volumes.
Davis stated that this kind of capital rotation “creates a structural floor below the market,” and historically, such distribution patterns have often preceded substantial price upswings.
BankXRP, a digital asset analytics service, reported a sharp decrease in XRP exchange activity, with Binance deposits and withdrawals dropping from $650,000 in June to $350,000 currently. This kind of cooling in exchange flows was last seen just prior to the notable rally in October 2025.
Mike Novogratz, CEO of digital asset firm Galaxy Digital, emphasized the industry’s cyclical nature and noted that crypto markets have historically experienced renewed momentum every four years in October.
XRP has achieved the 4th position globally in tokenized real-world assets, now holding $4.1 billion in tokenized assets on the XRP Ledger. By comparison, Ethereum holds 10th place in this category.
AssetTokenized Assets on LedgerGlobal RankXRP$4.1 billion4thEthereumNot specified10thDigital Asset Investor, a well-known crypto commentator, highlighted that this combination of decreasing exchange supply, progress on key legislation, and improving real-world asset tokenization infrastructure could underpin future breakout moves in XRP’s price.
Mini dictionary: CLARITY Act – Proposed U.S. legislation designed to set clear regulations and definitions for digital assets, aiming to bring legal certainty for companies operating in the crypto sector.
The post Goldman Sachs and Fidelity back CLARITY Act as XRP eyes October breakout appeared first on COINTURK NEWS.
