Summary
- Ripple CEO Brad Garlinghouse praised the U.S. Senate Banking Committee's push to advance the CLARITY Act.
- He said Ripple supports the bill because millions of Americans are participating in the cryptocurrency market and deserve the same rules and protections as other asset classes.
- The Senate Banking Committee is preparing for a CLARITY Act markup, and the bill includes stablecoin regulation and protections for decentralized finance (DeFi) developers, with more than 100 amendments submitted.
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Ripple Chief Executive Officer Brad Garlinghouse praised the U.S. Senate Banking Committee's efforts to advance the CLARITY Act.
Writing on X on May 13, Garlinghouse said the committee was working to move the bill forward and called it "incredible leadership."
Millions of Americans already participate in the cryptocurrency market, he wrote, and they deserve the same rules and protections as other asset classes. That is why Ripple supports the legislation.
He added that now is the moment for the U.S., the world's largest economy, to lead the cryptocurrency market and that Congress must pass the bill.
The Senate Banking Committee is scheduled to hold a markup on May 14 for the CLARITY Act, a crypto market structure bill. The legislation includes provisions on stablecoin regulation and protections for decentralized finance, or DeFi, developers. More than 100 amendments have been submitted.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
