XRP pundit X Finance Bull has provided key updates about the CLARITY Act that investors should be aware of. The pundit had earlier highlighted how key the crypto bill is for XRP, predicting that it could lead to massive growth for the token.
XRP Pundit Gives Key Updates On CLARITY Act
In an X post, X Finance Bull alluded to statements by key political figures indicating progress on the CLARITY Act. This includes White House crypto advisor Patrick Witt, who said that a compromise between the banks and the crypto industry on the stablecoin yield text. Witt also mentioned that they are looking to close out the remaining issues.
The XRP pundit further highlighted Senator Mark Warner’s statement about how they have made more progress in four days than in four months. Senator Cynthia Lummis also said that the clash on stablecoin rewards was 99% resolved.
Meanwhile, Senator Bill Hagerty and Coinbase’s Chief Policy Officer (CPO) Faryar Shirzad both expect the CLARITY Act’s markup to happen this month, although that is looking unlikely. The XRP pundit alleged that the crypto provisions are in good shape and that what remains is political negotiation over community bank deregulation, housing packages, and ethics provisions regarding U.S. President Donald Trump’s involvement in crypto.
X Finance Bull also claimed that issues around DeFi and commodity classifications have been settled, which is a positive for the CLARITY Act’s advancement. The XRP pundit highlighted that time is of the essence. He alluded to Galaxy Research’s statement that the crypto bill must pass within weeks.
At the same time, Senator Lummis has warned that failing to pass the bill now will mean they will need to wait until 2030. The XRP pundit noted how the advancement of the CLARITY Act could serve as a tailwind for every crypto asset under a regulatory cloud.
CLARITY Act Markup May Be Delayed
According to a Punchbowl report, Senator Thom Tillis has told the Senate Banking Committee Chair Tim Scott that the panel should not plan to advance the CLARITY Act this month. Senator Tillis, alongside Senator Angela Alsobrooks, has been mediating between the banks and the crypto industry to resolve the clash over stablecoin rewards.
Senator Tillis said that the negotiators need more time to finalize a compromise between the banks and the crypto industry on stablecoin yield. The senator suggested that they could now look to a May markup for the crypto bill rather than an April markup. Amid this potential delay for the crypto bill, X Finance Bull has stated that the crypto bill could serve as a bullish catalyst for XRP. He declared that those who bought early and did not get shaken out are going to “eat good.”
Featured image from Adobe Stock, chart from Tradingview.com
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