Ripple and Strategy told investors that Tuesday’s Senate rejection of the CLARITY Act did not alter the legal status of XRP or Bitcoin in the United States. The bill, which would have established federal crypto market rules, failed 49-50; supporters needed 60 votes. Ripple chief legal officer Stuart Alderoty cited a 2023 federal court ruling that XRP sales on exchanges were not securities transactions, while the same judge found Ripple’s institutional sales violated securities law. He also pointed to a March joint interpretation from the SEC (U.S. securities regulator) and CFTC (U.S. derivatives regulator) that named XRP one of 16 digital commodities. Strategy, formerly MicroStrategy, said Bitcoin has had U.S. legal and regulatory clarity for years. The company holds 845,050 BTC bought for $63.73 billion, or $75,412 per coin; Bitcoin traded near $76,206 after the vote, leaving the holdings roughly 1% above cost. The House passed the bill 294-134 in July 2025, with support from 78 Democrats, but it later failed in the Senate. Industry groups and lawmakers offered conflicting reactions, while Ripple, Chainlink and Grayscale directed attention to the SEC and CFTC to develop rules Congress did not enact.