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Vice President JD Vance said he “feels good” about the CLARITY Act but acknowledged opposition from Republican and Democratic senators.
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Newsmax host Carl Higbie claimed the legislation could unlock trillions of dollars and “make millionaires overnight.”
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The bullish comments have put Standard Chartered’s $28 XRP target back in focus.
XRP’s rebound toward $1.50 has brought bullish institutional price predictions back into focus after <a href="https://www.ccn.com/news/crypto/peter-schiff-takes-credit-driving-bitcoin-adoption/” rel=”nofollow noopener” target=”_blank”>Vice President JD Vance expressed confidence in the CLARITY Act.
Speaking to Newsmax host Carl Higbie, Vance described the crypto market structure bill as “very important” and said the Trump administration was working daily to advance it.
The interview gained particular attention after Higbie claimed the CLARITY Act could potentially “make millionaires overnight.”
Renewed political optimism has put Standard Chartered’s reported $28 XRP forecast for 2030 back under the spotlight.
JD Vance ‘Feels Good’ About CLARITY Act
On Friday, Higbie asked Vance when the CLARITY Act would clear the Senate, arguing that clearer crypto rules could bring enormous amounts of new investment into the sector.
Vance said he had initially hoped senators would approve the legislation before leaving Washington for the August recess.
The vice president blamed the delay on resistance from both parties, saying the administration still needed to work with Republican and Democratic senators before the bill could advance.
Vance nevertheless struck an optimistic tone.
“We’re working on it every day,” he said, adding: “I feel good about it.”
He argued that the US crypto industry had matured to the point where companies needed clearly defined rules rather than what he described as a regulatory “wild, wild West.”
According to Vance, the absence of a formal framework previously allowed the Biden administration and the Department of Justice to target crypto entrepreneurs without providing them with sufficient guidance.
CLARITY Act Vote Delayed Until September
The Senate’s next major test is scheduled for Sept. 15, although it will not be a final passage vote.
Supporters will need 60 votes to overcome the procedural hurdle and move the bill directly to consideration.
Coinbase CEO Brian Armstrong believes that the threshold remains achievable.
Armstrong said supporters could “hopefully get more than 60 votes” on Sept. 15.
Even if cloture succeeds, the legislation will face further debate and potential amendments.
Lawmakers remain divided on a number of hurdles, including:
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restrictions on stablecoin rewards
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anti-money-laundering requirements
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protections for blockchain developers
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rules preventing public officials from benefiting financially from crypto ventures
Source: finance.yahoo.com