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As the Senate Banking Committee approaches its highly anticipated markup session for the CLARITY Act, Ripple-promoted cryptocurrency XRP has reportedly emerged as a central focus in a growing list of proposed amendments ahead of Thursday’s crucial vote.
After months of delays and extended negotiations, industry advocates now view the latest version of the legislation as having a strong chance of moving forward. Despite that progress, several lawmakers, including Democratic Senator Elizabeth Warren, are continuing to push for additional revisions to the market structure bill through a new wave of proposed amendments.
Could Warren’s CLARITY Act Revisions Create New Banking Barriers for XRP?
A recent post on social media site X from Bull Winkle claims that anti-crypto Senator Elizabeth Warren spent Tuesday night preparing roughly 40 amendments allegedly aimed at preventing XRP from gaining access to the U.S. banking system.
“Warren is fighting to keep XRP out of U.S. banks. Japan didn’t ask permission. Neither did the BIS. Neither did SWIFT,” Bull Winkle wrote. “Regulatory opposition in one Senate committee does not pause the global financial architecture being built in Basel, Tokyo, and São Paulo.”
According to the popular crypto researcher, the most significant proposal would reportedly restrict the Federal Reserve’s ability to issue “master accounts” to crypto-related firms, a measure that could broadly impact companies and institutions tied to the digital asset sector, including Ripple, Circle, Anchorage Digital, and Custodia Bank.
 
Notably, Bull Winkle pointed out that some crypto firms have already secured meaningful regulatory footholds within the U.S. financial system. He noted that Kraken already holds a Federal Reserve master account, while Ripple has also obtained approval from the Office of the Comptroller of the Currency (OCC) to operate as a banking institution.
Within that context, Warren’s push is being portrayed less as an attempt to stop future crypto integration and more as an effort to slow or reverse momentum that supporters believe is already gaining traction across the financial system.
Amendments will be debated and put to a vote unless withdrawn, and will require a simple majority to pass. The Senate Banking Committee will then decide whether to advance the bill. After months of negotiations, the remaining issues appear largely resolved, opening the door for possible approval and eventual alignment with the companion bill already passed by the Senate Agriculture Committee.
In a Wednesday post, Ripple CEO Brad Garlinghouse said the Senate committee is “putting in the work” to advance the CLARITY Act, noting that millions of Americans are already participating in the crypto market. He added that Ripple supports the legislation because market participants deserve the same rules and protections as other asset classes, emphasizing that if the world’s largest economy intends to lead on crypto, it must establish clear regulatory standards.
At press time, XRP was trading near $1.52, up about 7.29% over the past 24 hours. The fourth-largest crypto’s modest dip came amid a wider crypto market pullback, with Bitcoin (BTC) also sinking back below the $80,000 mark, as per CoinGecko data.