Ripple called for the adoption of the CLARITY Act, which aims to bring comprehensive rules to the digital asset market in the USA, before the Congressional break that starts on August 7. As the Senate process of the bill reaches a critical stage, US President Donald Trump is scheduled to discuss the remaining disagreements with Republican senators on July 16 (today). During the same period, XRP ranked sixth in the blockchains and protocols category of the Fortune Crypto 100 rankings.
CLARITY Act will set regulatory limits
The bill aims to clarify under what conditions digital assets will be considered securities or commodities, determine the division of duties between the SEC and CFTC, and establish common compliance standards for investors. Ripple argues that clearly writing the rules by Congress would reduce long-standing legal uncertainty.
Mini dictionary: CLARITY Act is a bill that aims to establish the supervision framework of the digital asset market in the USA and separate the jurisdictions of the SEC and CFTC.
Ripple Chief Legal Officer Stuart Alderoty stated that rejecting the bill would preserve existing loopholes and malicious actors could continue to take advantage of the uncertainty. Ripple wants clear laws to be adopted instead of regulation through sanctions, citing its years-long legal battle with the SEC regarding XRP.
Voting in favor of the CLARITY Act means opposing preserving regulatory loopholes that can be exploited by bad actors. We’ve seen this movie before, we don’t have to watch the rest.
A section of Democratic senators are demanding stricter ethics provisions regarding public officials’ business activities in the crypto sector. Senator Thom Tillis stated that the parties were approaching an agreement, and Senator Cynthia Lummis stated that the new draft text would be announced shortly. The meeting between Trump and senators is expected to focus especially on ethics provisions.
XRP ranked sixth on Fortune Crypto 100 list
On the other hand, Fortune published its first Crypto 100 ranking prepared with Inca Digital. Using market value and price performance as well as evaluations of industry experts, the study ranked a total of 100 companies and protocols in ten separate categories.
| Order | Protocol |
|---|---|
| 1 | Bitcoin |
| 2 | Ethereum |
| 3 | solana |
| 4 | Chainlink |
| 5 | polygon |
| 6 | XRP |
XRP is associated with the XRP Ledger, which was developed for cross-border payments and settlement transactions. Ripple uses XRP in its solutions to speed up international money transfers. The protocol entered the list in sixth place, ahead of Arbitrum, Avalanche, Sui and Zcash.
The account sharing the name Ripple Mother in the XRP community argued that the ranking showed increased interest in the real usage areas of the asset. Fortune’s rating positions XRP among the world’s leading blockchain protocols.
