Ripple Shows How XRP Survived CLARITY Act Setback, MicroStrategy Says Bitcoin Never Needed It

Ripple and MicroStrategy told investors nothing legal changed for XRP and Bitcoin (BTC) after the Senate blocked the CLARITY Act on Tuesday. The bill would have written crypto’s US market rules into federal law. The vote failed 49 to 50. Backers needed 60.

Crypto markets reacted, but the impact was quickly contained. Bitcoin and XRP Price Performances. Source: TradingView Ripple and MicroStrategy Say the Legal Ground Has Not Moved Stuart Alderoty, Ripple’s chief legal officer, pointed to two wins that came before the vote.

A 2023 federal court ruling found XRP sales on exchanges were not securities deals. The same judge found Ripple’s sales to institutions did break securities law. Then in March, two US regulators went further.

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) listed XRP among 16 assets called digital commodities. “Don’t forget – Ripple and XRP stand on settled ground. The 2023 federal Court ruling established XRP is not a security.