"The administration wants the bill signed by then, but lawmakers are split, banks are pushing back, and 60 Senate votes are far from locked. But for the first time, the catalyst XRP holders have been waiting on has a date set by the White House itself. Where the XRP price goes after July 4 depends on that date holding up."
"The main challenge with getting it done by July 4 means everything has to line up perfectly. The Senate Banking Committee needs to mark up the bill the week of May 11. After that, the full Senate gets four working weeks in June to clear a 60-vote floor vote. Once that's done, the House votes one more time to merge its July 2025 version (which already passed 294-134) with whatever the Senate sends back."
"All of those steps have to be cleared in just under eight weeks, and if any one of them stalls, the July 4 target goes with it. CFTC Chair Mike Selig wants a July 4 signing, and Banking Committee Chairman Tim Scott calls the bill "in the red zone." Even Witt's own framing tells you how thin the margin is: "There's not a lot of slack left in the rope right now.""
"Senator Kirsten Gillibrand, the lead Democratic negotiator, took the same Consensus Miami stage and gave a different timeline. Her prediction: a final vote "in the first week of August if we're lucky, otherwise September." She also drew a hard line: no Democratic vote unless the bill includes an ethics provision banning crypto holdings by the president, vice president, and senior officials. The provision is aimed at Trump's TRUMP memecoin and his family's involvement in World Liberty Financial."
The White House is urging the CLARITY Act to be signed by July 4 after months of political stalemate. The timeline requires the Senate Banking Committee to mark up the bill during the week of May 11, followed by four working weeks in June for a 60-vote floor vote. After Senate passage, the House must vote again to merge its July 2025 version with the Senate’s final text. All steps must complete in under eight weeks, and any delay would miss the target. The bill faces hurdles including Democratic demands for an ethics provision banning crypto holdings by top officials, alongside other banking and vote-count challenges.
Read at 24/7 Wall St.
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