New York, Jan 14, 2026, 17:24 EST — After-hours
- XRP slipped as Washington neared discussions on a sweeping crypto market regulation bill.
- The draft proposes dividing oversight between U.S. regulators and imposes limits on stablecoin rewards.
- Traders are eyeing committee debates, focused on potential amendments and the risk of delays.
XRP slipped on Wednesday, surrendering earlier gains as investors digested renewed efforts in Washington to establish clearer regulations for digital tokens. The coin last traded down roughly 0.9% at $2.14, after peaking near $2.18. Meanwhile, bitcoin and ether edged higher.
The announcement follows a day after U.S. senators revealed draft legislation aiming to set rules for crypto, including specific language to clarify when tokens qualify as securities, commodities, or something else. According to a filing, the bill proposes giving the Commodity Futures Trading Commission control over spot crypto markets—where assets trade for immediate delivery—and restricts crypto firms from paying “interest” just for holding dollar-pegged stablecoins. Summer Mersinger, CEO of the Blockchain Association, said the real obstacle isn’t a lack of policy effort but the “relentless pressure campaign by the Big Banks.” Meanwhile, Cody Carbone, CEO of The Digital Chamber, described the momentum as “encouraging.” 1
Why it matters now: XRP is caught at the heart of the U.S. debate over which agency should regulate crypto markets and how tokens are categorized. Should lawmakers shift oversight from the Securities and Exchange Commission in crucial areas, it might reshape how investors assess regulatory risk—not just for bitcoin but across a wide range of “altcoins.”
Stablecoins are drawing plenty of focus. Visa’s crypto chief, Cuy Sheffield, said the company is working on linking stablecoins to its existing card network, but acknowledged there’s still no “merchant acceptance at scale” for direct spending. According to Sheffield, Visa’s stablecoin settlement volumes have hit an annualized $4.5 billion run rate, compared to $14.2 trillion in payments processed last year. 2
In XRP markets, the blend of policy and payments keeps the tape volatile. Traders often fade sharp moves, waiting for language that can withstand committee edits and floor votes. Stablecoin rewards and anti-money-laundering rules remain hot-button issues.
The downside is clear: the draft could shift rapidly amid messy politics. Banks are pushing back strongly on stablecoin yield, and lobbyists warn midterm-election math might block any major deal. That leaves the sector navigating shifting guidance instead of a definitive law.
The immediate catalyst is procedural and fast approaching. On Thursday, the Senate Banking Committee will review the draft. Investors will be focused on whether lawmakers decide to limit or expand the CFTC’s authority and how they define token classifications.
Next up: the Senate Agriculture Committee’s schedule. Chairman John Boozman announced the panel will drop legislative text by the close of business on Jan. 21, with a committee markup set for 3 p.m. on Jan. 27. These dates could steer the direction of crypto regulations—and influence trading in tokens like XRP as the new week begins. 3
