The CLARITY Act has reached a critical point as lawmakers weigh concerns about stablecoin yields and their potential impact on traditional bank deposits.
Crypto commentator X Finance Bull linked the legislative dispute to concerns raised by U.S. Senator Josh Hawley and comments from XRP Ledger co-creator David Schwartz, while also pointing to recent developments on the XRP Ledger.
In a video posted alongside X Finance Bull’s tweet, Hawley said his main concern involves farmers in Missouri who depend on small local banks for agricultural loans. He said investors could move money out of those banks to pursue yields available through stablecoins under the legislation. Hawley said such an outflow could reduce the capital small-town banks use to provide loans to farmers.
Hawley also said he supports the CLARITY Act except for this issue. He pointed to language proposed by Senator Jerry Moran that he believes could address the concern.
$XRP Holders watch this! 🚨🚨🚨 CLARITY Act stalled for a reason. The fight over who controls your dollars is getting real.
This is where David Schwartz went straight to the real issue.
Hawley’s concern was simple: if people move money out of community banks chasing better… https://t.co/SSXpAATRlX pic.twitter.com/XhT1zv7Ah7
— X Finance Bull (@Xfinancebull) September 17, 2026
David Schwartz Offers a Different View
X Finance Bull then connected Hawley’s concerns to comments from David Schwartz, who characterized the banking industry’s position as protecting bank profits.
The post pointed to lobbying efforts from the banking sector. X Finance Bull noted that all 77 state bankers associations, including the American Bankers Association and Independent Community Bankers of America, have pushed senators to tighten restrictions around stablecoin yield and rewards.
The commentator linked those concerns to deposits’ role in the banking system. X Finance Bull cited Federal Reserve data showing that deposits account for roughly two-thirds of U.S. bank liabilities.
The post argued that stablecoins could affect the banking system beyond payments. As more funds move into digital dollars and other onchain assets, banks could see changes in their deposit base as blockchain networks handle an increasing share of financial activity.
XRP Ledger Develops Onchain Lending
X Finance Bull connected this possibility to recent developments on the XRP Ledger. The post noted that XRPL released xrpld 3.4.0 on September 16, introducing LendingProtocolV1_1 with closed-ended vaults and cash-basis accounting.
The commentator described the lending architecture as a way to support pooled on-chain capital that can eventually facilitate credit. X Finance Bull also pointed to RLUSD, XRPL’s native exchange infrastructure, and tokenized assets as components of the ecosystem.
The post further identified XRP as the ledger’s native asset and linked it to liquidity movement across the network. X Finance Bull argued that greater on-chain adoption could connect digital dollars with tokenized assets, liquidity, lending, and settlement.
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The XRP Connection
X Finance Bull framed the CLARITY Act dispute as part of a larger question about where money will reside and which financial infrastructure will support it.
The commentator also referenced the SEC and CFTC’s March interpretation, which explicitly identified XRP as a digital commodity. X Finance Bull explained that this classification, combined with developments on the XRP Ledger, makes XRP’s role in an expanding onchain financial system worth watching.
The post ultimately focused on one question: if more money moves onchain, which network will handle the movement, trading, borrowing, and settlement of that capital? X Finance Bull placed XRP and the XRP Ledger within that broader discussion.
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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