The Digital Asset Market Clarity Act is moving through Congress, and the traditional banking industry is not taking it quietly. This is one of the most important cryptocurrency-related pieces
The Digital Asset Market Clarity Act is moving through Congress, and the traditional banking industry is not taking it quietly. This is one of the most important cryptocurrency-related pieces of legislation in history, and prominent XRP enthusiast Levi Rietveld is telling his audience to pay attention.
He believes that the pushback from prominent figures, such as JPMorgan CEO Jamie Dimon, is not a warning sign. It is confirmation that the legislation carries real weight.
The bill recently cleared the Senate Banking Committee with a bipartisan vote. It would give crypto exchanges a formal regulatory structure and bring digital assets under CFTC jurisdiction. For banks, that means direct competition for financial services they have dominated for decades.
I TOLD YOU $XRP ARMY!!!! I TOLD YOU THIS WOULD HAPPEN!!! pic.twitter.com/YldE7jmfpN
— Levi | Crypto Crusaders (@LeviRietveld) May 30, 2026
Dimon went on national television to make his opposition public. He called Coinbase CEO Brian Armstrong “full of shit” and addressed the lobbying effort directly, noting Armstrong’s company is spending hundreds of millions of dollars to advance the legislation. He was clear about its future, stating, “We’ll fight it. If we lose, we lose, and we’ll live.”
Rietveld acknowledged that Dimon’s position is a rational business decision. “They’re doing this because it’s in their best business interest,” he said, “and they have a duty to their shareholders.” But Rietveld’s broader point is that a CEO of Dimon’s stature going on television signals how serious the threat to traditional banking actually is.
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The CLARITY Act establishes a statute that digital assets traded on public exchanges are commodities under CFTC jurisdiction. The SEC and CFTC jointly classified XRP as a digital commodity earlier in 2026.
That administrative ruling provides a great deal of clarity, but a statutory framework carries far greater legal weight. That is what the CLARITY Act delivers, and why the crypto market is excited.
Rietveld pointed directly to what he expects to follow. “When that shift starts to take place,” he said, “we’re going to see so much capital come into the crypto industry.” XRP stands to benefit directly from this shift. The SEC’s lawsuit against Ripple kept many U.S. exchanges from freely listing XRP for years.
Regulatory clarity removes that barrier permanently. When institutional investors see a legal framework in place, capital follows, and XRP is already receiving institutional attention. Dimon knows that, and it is why he is fighting.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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