In a whirlwind of events to advance landmark crypto legislation in a Senate committee, the cryptocurrency industry is celebrating.
Landmark legislation to regulate the digital asset industry at large squeezed past a committee following months of strained deliberations.
Stablecoin advocates argue that in the end limiting rewards is a losing battle as companies will find ways to incentivize users.
GSR's Joshua Riezman gave the Clarity Act below-50% odds of passing this Senate session, citing stablecoin yield and ethics concerns.
XRP investment products witnessed a notable spike in inflows last week. CoinShares data shows that XRP products attracted $39.6 million last week, a 1,220% jump from the modest $3 million recorded in the previous week. The move came as digital asset investment products posted their sixth straight week of inflows, bringing in $857.9 million across the market. The broader tone was helped by improving sentiment around the CLARITY Act, especially after lawmakers reached a compromise on stablecoin yield rules. Spot XRP Inflows Jump 1,220% CoinShares’ latest weekly flow data shows XRP-based exchange-traded products received $39.6 million in inflows last week, compared to only about $3 million in the prior week. That is a 1,220% increase in seven days and brings XRP’s year-to-date flow to $191 million. XRP’s assets under management also climbed to about $2.56 billion, placing it among the strongest non-Bitcoin crypto investment products in the latest report. Related Reading: Pundit Says XRP At $1,000 Is Nothing Big, The Real Value Is Much Higher Bitcoin still dominated the market with $706.1 million in weekly inflows, while Ethereum recorded $77.1 million and Solana brought in $47.6 million. However, those numbers mostly reflect the larger size of their markets. XRP’s move is much more notable because it shows a sudden change in allocation behavior. Investors who had only been adding small amounts to XRP products in previous weeks stepped in with much larger sizes, pushing XRP ahead of most altcoin products outside of Ethereum and Solana. Interestingly, the regional flow data shows that the United States was the main pipeline of last week’s rebound. US-based products recorded $776.6 million in inflows, a 1,530% recovery from the previous week’s $47.5 million inflows. Germany followed with $50.6 million, Switzerland added $21.1 million, and the Netherlands recorded $5 million. XRP’s Growing Institutional Infrastructure The inflows into XRP-based products came during a period of wider inflow into crypto products. However, there were a few significant developments last week that helped contribute to a positive institutional narrative around XRP and Ripple’s entire ecosystem. Related Reading: XRP History Is About To Repeat Itself And Price Could Rally 1,008% To Cross $10 Most notably, Ripple announced the successful completion of a pilot tokenized US Treasury settlement on the XRP Ledger with JPMorgan, Mastercard, and Ondo Finance, processing the redemption in under five seconds. This event, which is part of the rapid growth in tokenized real-world assets, was enough to increase bullish sentiment surrounding the Ripple and XRP ecosystems. The pattern of institutional demand is also becoming more durable. April had already been the strongest monthly inflow period of 2026 for US-listed XRP ETF products, and last week’s surge suggests that momentum has carried into the new month. The CLARITY Act is also one of the biggest reasons behind the sudden improvement in fund flows across the entire market. The United States Senate Banking Committee has unveiled the draft text of the CLARITY Act, and a vote is scheduled to be held on May 14. Featured image from Adobe Stock, chart from Tradingview.com
U.S. Senate Banking Committee is scheduled to hold a markup on Thursday to amend and vote on the Clarity Act.
Labor unions warned senators that a pending crypto bill jeopardizes worker retirement plans, CNBC reported.
A fix to the ongoing discussions around stablecoin rewards and language on protecting software developers is in the updated legislative text.
The Senate Banking Committee is set to vote on the crypto bill, or Clarity Act, on Thursday despite objections from banks and Democrats.
Days before a key Senate committee to vote on crypto legislation, ABA CEO Rob Nichols sent a letter to bank executives.
A much-anticipated hearing to vote on sweeping crypto legislation is happening, marking a second attempt in the Senate Banking Committee.
Vibes are on the upswing a week after lawmakers reached a compromise on what had become a major sticking point in passing crypto legislation.
Senator Elizabeth Warren questioned Meta over its stablecoin trial, citing Libra risks and 2026 integration plans.
The White House's top crypto adviser, Patrick Witt, set a target date for July 4 to pass broad crypto legislation into law.
There will be no deal without an ethics provision in sweeping cryptocurrency market structure legislation, warned Sen. Kirsten Gillibrand.
The dispute could still delay the crypto bill and reduce the chances of it passing this year, despite a proposed compromise, the firm said.
Major banking trade groups said a proposed fix to a key sticking point in passing crypto market structure legislation 'falls short.'
Coinbase CEO Brian Armstrong urged the Senate Banking Committee to "mark it up" as a months-long stalemate appears to be at an end.
Crypto legislation is gaining momentum, with lawmakers eyeing a potential mid-May markup—even as key disputes remain unresolved.
U.S. senators are now barred from trading on prediction markets following the unanimous passage of a resolution on Thursday.
Sens. Warren and Wyden are pressing Tether and Commerce Secretary Lutnick over a reported loan made to a trust tied to Lutnick’s children.
The Senate Banking Committee voted to approve Federal Reserve Chair pick Kevin Warsh's nomination, sending it to the full Senate.
Legislation to establish a strategic bitcoin reserve in the U.S. is set to be reintroduced in the next few weeks.
Thom Tillis has reportedly said he would not support the crypto bill if it does not include conflict-of-interest provisions.
The DOJ dropped its criminal investigation into Fed Chair Jerome Powell, clearing the way for the Senate to confirm Kevin Warsh.
Crypto trade groups and dozens of digital asset firms urged the Senate Banking Committee to hold a markup on market structure legislation.
These include a lack of CFTC commissioners, conflicts tied to World Liberty Financial, and concerns around Iran's use of crypto payments.
After months of negotiations over how a crypto bill should treat stablecoin rewards, a key negotiator says discussions are in a "good spot."
Digital assets are already ingrained in the financial industry, said Federal Reserve chair pick Kevin Warsh during his nomination hearing.
Tensions are building to schedule a hearing to advance crypto market structure legislation, which could reportedly be pushed to May.