As the Senate Banking Committee prepares to mark up the CLARITY Act, XRP — the token promoted by Ripple — has surfaced as a focal point in a new wave of proposed amendments reportedly pushed by Senator Elizabeth Warren.
After months of delays and negotiations, the bill’s latest draft has been described by industry observers as having a realistic chance of advancing. Still, several lawmakers are pressing for changes, and reports say Warren drafted roughly 40 amendments ahead of Thursday’s committee vote.
A widely shared post on X from an account known as Bull Winkle alleges the amendments are aimed at preventing XRP-related firms from gaining access to U.S. banking infrastructure. According to that account, the most consequential proposal would limit the Federal Reserve’s authority to grant “master accounts” to firms involved in crypto, a restriction that could affect Ripple and other companies tied to the digital-asset sector such as Circle, Anchorage Digital, and Custodia Bank.
Supporters of the reported amendments frame them as safeguards; critics argue they would erect new barriers to cryptocurrency integration with U.S. financial plumbing. The X post also contrasted U.S. regulatory resistance with developments overseas, noting that jurisdictions like Japan and global bodies such as the Bank for International Settlements are moving forward on crypto-related infrastructure without U.S. sign-off.
Observers point out that some crypto firms already have footholds in the U.S. financial system: Kraken has reportedly obtained a Federal Reserve master account, and Ripple has received approval from the Office of the Comptroller of the Currency to operate as a banking institution. Proponents of broader access say those precedents show crypto firms can be integrated under existing rules, while supporters of tighter limits say new safeguards are needed.
Any amendments offered in committee will be debated, can be withdrawn, and if put to a vote would require a simple majority to pass. The committee will then decide whether to advance the CLARITY Act to the full Senate. After long negotiations, many outstanding issues appear to have been narrowed, raising the prospect of the bill aligning with a companion measure already approved by the Senate Agriculture Committee.
Ripple CEO Brad Garlinghouse posted that the Senate committee is making progress on the CLARITY Act and reiterated that millions of Americans already participate in crypto markets. He said Ripple supports the bill’s aim of clear, consistent rules so crypto participants receive the same protections as other asset classes if the U.S. intends to lead on digital-asset regulation.
At the time of reporting, XRP traded near $1.52, up roughly 7.3% over 24 hours, according to CoinGecko data; Bitcoin had slipped back below the $80,000 level amid a broader market pullback.
