HomeCryptocurrencyHere's Why Today Could Be XRP's Day for the History Books

Here’s Why Today Could Be XRP’s Day for the History Books

Today carries real weight for the crypto industry. The Senate has officially scheduled the cloture vote on the CLARITY Act for 2:15 PM ET. Crypto proponent Amelie (@_Crypto_Barbie) shared the Senate Democrats’ scheduling notice, calling it “a day for the history books.”

What the Vote Requires

Getting here required over a year of bipartisan negotiations. Cloture requires 60 votes, and Republicans hold 53 Senate seats. At least 7 Democrats must vote yes for the motion to succeed. Congressional reporting has indicated that 7 to 10 Democrats are willing to support the legislation, though no formal commitments have been made public.

The bill has already cleared the House and passed through both the Senate Banking and Agriculture Committees. It establishes a federal regulatory framework for digital assets, defining which fall under SEC jurisdiction and which fall under CFTC oversight.

The final text incorporates more than 100 changes made at the request of Democrats. Senator Cynthia Lummis, a key sponsor of the bill, has called on Democrats to vote for the bill they helped build.

The Community Responds

The crypto community reacted immediately. One commenter noted the moment’s historic potential. Another expressed skepticism, suggesting the goalposts would shift before anything concrete materialized.

One observer voiced frustration, arguing that Democrats are holding the crypto community hostage by repeatedly blocking progress. Another took a harder stance, arguing that any Democrat who votes against the bill should be voted out of office.

One commenter also shared comments from Treasury Secretary Scott Bessent. He stated that the bill is essential to securing America’s role in the global race for new financial technology. He previously urged the Senate to vote for the bill, arguing that failure to do so would send a message to adversaries that the U.S. is unwilling to lead the digital asset space.

What to Watch

A successful cloture vote does not end the process. After clearing 60 votes, the Senate moves to up to 30 hours of post-cloture debate. Amendments follow, then a separate final passage vote.

Senator Lummis previously stated that a failed Tuesday vote could delay the next opportunity until 2030. Major institutions including BlackRock, Fidelity, Goldman Sachs, and Charles Schwab have all backed the legislation. Law enforcement groups have also dropped their opposition. The vote is set, and the market is watching for the outcome.

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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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over seven years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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