What Is the Crypto Clarity Act? What Tuesday's Senate Vote Decides for XRP, Bitcoin, Ethereum, and Solana

The Senate vote at 2:15 p.m. ET on September 15 could lock in permanent legal ground for XRP, Bitcoin, Ethereum, and Solana, or leave their commodity status resting on a document the next administration can erase overnight.

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The Senate votes at 2:15 p.m. ET on September 15 on whether it can start debating the CLARITY Act. XRP (CRYPTO:XRP), Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH) and Solana (CRYPTO:SOL) are already commodities in the eyes of the SEC and the CFTC, but the agencies said so in a document the next SEC can rewrite.

So what is the CLARITY Act, and what does today’s vote decide for the four biggest coins?

The CLARITY Act Splits Crypto Between Two Regulators

The Digital Asset Market Clarity Act, filed as H.R. 3633, sorts every coin into one of two boxes. A digital commodity is a coin whose value comes from people using and trading the network, the way Bitcoin works, and the Commodity Futures Trading Commission would police those. A digital security is a coin whose value depends on a company doing the work, and the Securities and Exchange Commission would police those.