September 15 is shaping up to be the most consequential day for crypto regulation in 2026. That’s when the Senate is expected to hold a cloture vote on the Digital Asset Market Clarity Act, and Stuart Alderoty, Ripple’s Chief Legal Officer, is making it very clear he thinks the stakes couldn’t be higher.
The procedural vote, scheduled for approximately 2:15 PM ET, requires at least 60 senators to agree to advance the bill. Anything less, and the legislation stalls. Alderoty warned that failure to move forward would mean the US could “miss an incredible opportunity” to build a coherent regulatory framework for digital assets.
What the Clarity Act actually does
The bill, formally designated H.R. 3633, passed the House back in July 2025 with bipartisan support. At its core, the Clarity Act attempts to resolve one of crypto’s longest-running turf wars: who regulates what. The SEC and CFTC have spent years jockeying over jurisdiction, leaving companies and investors caught in a regulatory no-man’s-land. The bill would draw clearer boundaries between the two agencies and establish a framework for distinguishing digital commodities from securities.
It would also redefine the term “digital commodity” under federal law and carve out exemptions for certain stablecoins from specific regulatory requirements. An updated 616-page version of the bill text was released on July 22, 2026, by Republican lawmakers, reflecting months of negotiation and revision.
Ripple’s skin in the game
If any company has earned the right to care deeply about regulatory clarity, it’s Ripple. The firm spent years locked in an enforcement battle with the SEC over whether XRP constituted an unregistered security.
Both Alderoty and CEO Brad Garlinghouse have been vocal advocates for the Clarity Act’s passage. They’ve framed the legislation as essential for consumer protection and for giving law enforcement better tools to pursue fraud and malpractice in the crypto space.
Alderoty has been particularly pointed about the downside scenario. Without this legislation, he argues, the market remains vulnerable to exploitation by bad actors who thrive in gray areas.
The 60-vote problem
Getting to 60 votes in the Senate is never easy, and the Clarity Act’s path is no exception. The bill needs Democratic support to clear the cloture threshold, which means bipartisan negotiations are critical. Congress spent August in recess, which compressed the window for deal-making heading into the September vote. Competing legislative priorities always threaten to crowd out crypto-specific bills.
A successful cloture vote would signal that comprehensive crypto regulation is genuinely moving forward in the US. A failed vote, on the other hand, would reinforce the status quo. The SEC and CFTC would continue operating under their existing, often conflicting frameworks. Companies would keep building compliance programs around enforcement actions rather than legislation.