The CLARITY Act failed its Senate cloture vote on September 15, falling short by 11 “Yes” votes (49-50). Ripple Chief Legal Officer Stuart Alderoty responded publicly, reminding the community
The CLARITY Act failed its Senate cloture vote on September 15, falling short by 11 “Yes” votes (49-50). Ripple Chief Legal Officer Stuart Alderoty responded publicly, reminding the community that XRP already has legal clarity. He stated that “Ripple and XRP stand on settled ground.”
The SEC vs. Ripple lawsuit delivered that. Courts ruled that XRP is not a security. That ruling stands regardless of what Congress passed or failed to pass.
Alderoty has made this point consistently alongside Ripple CEO Brad Garlinghouse. The CLARITY Act mattered to the crypto industry at large. XRP already secured the legal foundation through litigation.
Don’t forget – Ripple and XRP stand on settled ground. The 2023 federal Court ruling established XRP is not a security.
And in March the SEC and CFTC issued a joint interpretation naming XRP a digital commodity. SEC Chairman Atkins and a CFTC Chairman Selig understand these… https://t.co/63ML5xmbAP
— Stuart Alderoty (@s_alderoty) September 15, 2026
XRP had climbed to $1.48 on September 14 in anticipation of a favorable Senate outcome. Once the result came in, it fell to a low of $1.27 before recovering slightly to $1.29. The price drop reflected the shock of the vote’s outcome. The community’s reaction made that shock visible.
XRP holders expressed frustration across social media. One commenter asked when XRP’s clarity would actually matter, as Ripple’s executives consistently remind the community. Another argued that XRP’s clarity means nothing because wealthy interests manipulate the system at ordinary investors’ expense.
One commenter challenged the logic of claiming XRP has clarity, arguing that the asset’s adoption does not reflect it. Another argued that institutional money requires full regulatory clarity before committing, and expressed frustration at what he described as political obstruction holding the market hostage.
SEC Chair Paul Atkins said the agency is “ready, willing, and able to come out with rules.” CFTC Chair Michael Selig made a similar commitment at the agency’s Innovation Advisory Committee meeting, stating the CFTC would use its existing authorities to establish a crypto market structure if Congress failed to act.
The SEC released its Regulation Crypto Assets proposal on August 18, currently in a 60-day public comment period. The CFTC directed staff to explore rules for a dedicated crypto asset market structure. Both agencies are moving. Alderoty sees XRP as already positioned within whatever framework emerges.
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The 2023 court ruling gave XRP a legal foundation that no other major crypto asset holds. Alderoty highlights a joint interpretation from the SEC and CFTC in March that classified XRP as a commodity. His position is that this foundation matters more than any single piece of legislation.
The CLARITY Act would have provided statutory clarity for the industry. XRP already has regulatory clarity.
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