The U.S. Senate may hold a procedural vote on CLARITY Act on September 15th, a date that is being closely watched by the crypto market. Reports suggest that if the bill progresses, the classification of XRP, XLM, and HBAR under the U.S. regulatory framework could become further clarified.
The House of Representatives and the Senate have both made progress in succession.
It is reported that the U.S. House of Representatives previously passed the bill with 294 votes in favor and 134 against, including 78 Democratic members voting in favor. Subsequently, the Senate Banking Committee also advanced the bill to the next stage with a vote of 15 to 9.
The report also states that the next time point of concern for the market is 2:15 p.m. on September 15th, Eastern Time, when the Senate may conduct a procedural vote. Such votes usually do not equate to the final completion of legislation, but they can affect whether the bill can move forward.
XRP, XLM and HBAR are classified as being of interest.
The article states that as early as March 2026, regulators from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarded XRP, XLM, and HBAR as cases of digital commodities. This statement is one of the important reasons why the market is paying particular attention to this vote.
If the relevant legislation continues to advance, market expectations are that the regulatory boundaries for certain tokens by U.S. authorities will become clearer. For issuers, trading platforms, and institutional participants, this will affect compliance arrangements regarding custody, payments, and related financial services.
Stablecoins and tokenization businesses are regarded as background factors.
The report mentions that Ripple is advancing infrastructure construction around related networks, and RLUSD as well as tokenization fund services are also being discussed. Meanwhile, in the second quarter, Stellar achieved a stable coin transfer volume of 1.14 billion US dollars, and Hedera has surpassed a tokenized value of 300 million US dollars through Archax.
These data are regarded by the market as one of the reasons why the bill has attracted attention. The reason is that once the regulatory classification becomes clearer, the pace at which banks and institutions can advance in businesses such as payments, custody, and lending may be affected.
We will continue to monitor the progress in the Senate.
For now, September 15th seems more like a test of legislative progress rather than the final outcome. If the procedural vote is passed, the bill still needs to go through subsequent processes; if progress stalls, market expectations for regulatory oversight of related tokens may also cool down accordingly.
Additional information:The report also mentioned that Ripple plans to hold an Ripple Swell event on October 27th, which is also seen by some market participants as a subsequent time point worth paying attention to.
