Encryption Concepts Daily Watch: After the adoption of CARITY Act 15-9, Ripple and XRP tracks are officially institutionalized
1. LEGAL CHARACTERIZATION OF XRP: FROM LAW ENFORCEMENT CIRCUMVENTION TO STATUTORY PROTECTION
Together with CFTC, in March 2026, XRP was classified as a digital commodity - an administrative interpretation, a reversible regulatory position, and the next government could be overturned by memorandum without any legislative process. CLARITY Act incorporates this classification into federal statutory law, making it impossible for any future government to unilaterally and administratively reinstate XRP as securities. The commercial significance of this difference is profound: banks, trustees and ETF issuers need certainty at the legislative level rather than at the administrative level of interpretation when making long-term compliance infrastructure investments - - The two are at a completely different level in the corporate legal sector risk rating system. Historically, it was the enforcement proceedings against Ripple by the SEC in 2020 that led to the withdrawal of a large number of banks and payment agencies from XRP, an obstacle that will be removed once the bill is passed。
Standard Chartered $4-8 billion XRP ETF projections: logic and premise
Standard Chartered released a study after the CIA Act passed the committee predicting that XRP ETF will be adopted by the entire Senate$4-8 billionNet inflows; 24/7 Wall St. Analysts scheduled short-term XRP price ranges for adoption by the Commission$1.65-$2.000IF THE ENTIRE SENATE PASSES AND THE ETF PRODUCT IS ONLINE, THE LONG-TERM TARGET IS$3-$5I don't know. This projection is premised on the approval of the XRP spot ETF application by the SEC after the adoption of the CARITY Act (a number of applications are currently pending, including Bitwise, CanaFunds and 21 Shares) and the affirmative vote of at least seven Democrat senators across the 60 threshold. It is worth noting that there is a clear disagreement between Standard Charter and TD Cowen about the probabilistic judgment of the entire Senate (Standard Chartered is more optimistic, TD Cowen gives about 30%) and that readers need to critically assess the interest positions and assumptions behind institutional forecasts。
3. Ripple Enterprise valuation re-engineering: from litigation discount to agency payment of infrastructure premium
The core of Ripple's business model lies in RippleNet's cross-border payment network, which is about $15 billion-$20 billion. The 300+ financial institutions, which now cover more than 70 countries, are constrained by the uncertainty of the legal attributes of the XRP and a large number of partners are cautious in using the XRP as an intermediate currency for settlement. CLARITY Act, by directly improving the business prospects of Ripple on three levels: first, banks and trustees could comply with the XRP and transfer the RippleNet threshold for unlocking business clients; second, legal certainty in cross-border payment corridors would attract more licensed payment agencies into the XRP liquidity network; and third, Ripple CEO Brad Garlinghouse, in Consensus Miami, had made it clear that if the bill failed to move forward by the end of May, the legislative window would be "larger" — and 15-9 committee votes would be exactly the legislative kinetic signal he sought。
4.60 votes is the real test of the bill's ultimate success
Following the adoption of the Committee, the next step was to merge with the version of the Digital Commodity Intermediary Act adopted by the Senate Committee on Agriculture, which would then be available to the Senate in its entirety60 votes— With 53 Republican seats, at least seven Democrat senators are required to cross-line support. Gallego and Alsobrooks' committee votes were a meaningful signal, but both stated that they did not represent the entire Senate position; the core claims of the remaining Democrats remained focused on strengthening anti-money-laundering provisions, incorporating ethical restrictions on the encryption interests of government officials, and resolving the harmonization of the currency stabilization provisions between CLAARTY and GENIUS Act (signed into law in July 2025). The White House's signature target on 4 July meant that the Senate would have to complete the polls by the end of June — the bicameral coordination, 60 votes in four working weeks — was extremely tight. For the investors in the encryption concept, adoption by the Commission was a necessary but not sufficient condition; the true valuation re-construction window would only be fully open when the 60 threshold was actually crossed。
Data source:https://bbx.com/THE ENCRYPTION CONCEPTS INFORMATION BASE IS BASED ON YESTERDAY'S GLOBAL LISTED CORPORATE BULLETIN AND THE SEC/TSE DISCLOSURE DOCUMENT。
