"Don't forget - Ripple and XRP stand on settled ground. The 2023 federal Court ruling established XRP is not a security. And in March the SEC and CFTC issued a joint interpretation naming XRP a digital commodity," Alderoty wrote on X.

Sen. Thom Tillis immediately filed a motion to reconsider, keeping alive a procedural path for the Senate to revisit the CLARITY Act.

Bitcoin prices fell on Tuesday, September 15, suffering a notable decline before the Clarity Act failed a key vote on Capitol Hill.

The Senate will vote on the Clarity Act, a key bill for crypto regulation, on Tuesday afternoon.

SEC Chair Atkins backed the CLARITY Act but confirmed the agency's crypto rulemaking agenda proceeds regardless of Tuesday's Senate vote.

In an interview with CNBC, Bitwise CIO Matt Hougan stated that clearer rules defining the SEC and CFTC’s roles could encourage more Wall Street investment in crypto.

Tim Scott warns that Democratic opposition to the Clarity Act risks costing America its leadership in the next evolution of financial markets.

Senate Democrats have submitted a counterproposal to the CLARITY Act just hours before a key procedural vote, while attorneys general and banking groups push for further changes.