Bill

If enacted, the American Reserve Modernization Act creates a non-discretionary sovereign bid that structurally removes supply and resets the collateral conversation for every tokenized credit builder.

If the CLARITY Act does not reach a Senate floor vote before August recess, institutional capital deployment into digital assets loses its legal foundation for this cycle.

When venture capital stops lobbying for principles and starts lobbying for text, the bill is close enough to matter to their portfolio.

The Senate bill reduces legal risk for XRP but stops short of the explicit classification that institutional desks need to build.

A 15-9 Senate vote does not open the tokenization market. It removes the last excuse institutions had for not opening it themselves.

The CLARITY Act markup signals that federal legal clarity for on-chain assets is further away than institutional allocators have priced in.

The biggest barrier to institutional tokenization was never the technology. It was not knowing which regulator owned the room. That may now be changing.

Regulatory ambiguity has been the real wall blocking institutional capital from tokenized assets, and the Senate Banking Committee just started removing it.

A Senate committee vote is not a law, but it is the moment a bill stops being a wish and starts being a deadline for every institution sitting on tokenization plans.