The U.S. Senate postponed a vote on the Crypto Clarity Act until September, prompting XRP to decline 5.5% over the week to $1.02 on Friday. Bitcoin held near $64,300 despite the regulatory setback.
Senate Majority Leader John Thune said “a vote would come in September, when lawmakers return on Sept. 14 with three weeks to work through a backlog that also includes government funding and a Russia sanctions bill.” The delay pushes final passage into a compressed legislative window as Congress resumes after its August recess.
The Crypto Clarity Act would designate which U.S. regulator oversees which digital assets. The bill requires 60 votes to pass, and its current vote count is unclear. Several Republican senators have publicly opposed the bill. Democrats want stricter rules preventing President Trump from profiting from crypto while in office. Trump disclosed more than $1 billion in income from crypto ventures in 2025.
Market Moves
XRP dropped 2% on the day, underperforming a broader crypto market that showed mixed signals. Ether fell 1.9% over the week to $1,897. Solana held at $73, while BNB traded at $591. Hyperliquid’s HYPE token gained 1.3% to $56.
Bitcoin’s price action reflected institutional demand. Spot bitcoin funds took in $626 million between Aug. 3 and Aug. 5, defending support near $63,000 to $64,000. Resistance remained unbroken at $66,000 to $66,600.
Fed Rates and Economic Data
The Federal Reserve held rates steady at 3.50% to 3.75% in July, though three officials voted to raise them. Upcoming U.S. employment and inflation data could influence Bitcoin’s direction as markets await clearer signals on monetary policy.
The Clarity Act delay extends uncertainty for crypto companies and institutional investors seeking regulatory clarity on asset classification. Passage in September would depend on building consensus across a divided Senate in a session already crowded with government funding and foreign policy priorities.
