The Senate Banking Committee will review the Crypto Market Structure Bill this month. The decision could boom or bust XRP during a volatile market stage.
The bill faces scrutiny amid the Davos World Economic Forum and shifting investor sentiment. Analysts say passage might lift confidence in Bitcoin and invite institutional entry into crypto.
Senators have proposed over 75 amendments to the measure, reshaping many provisions. A recent proposal would ban paying stablecoin yield while allowing some other rewards.
Last Friday, token efforts sought to undo harm after Coinbase abruptly withdrew support for the latest CLARITY Act draft. Brian Armstrong declared last Wednesday, “rather have no bill than a bad bill,” after Coinbase withdrew support.
A call then convened between crypto stakeholders and Senate Democrats to seek a joint approach. Some reports called it productive while others labeled it a ‘group therapy session’ with no real progress.
Should the bill be approved by month-end, Ripple‘s XRP could see a bullish February.
