Ripple CLO Says Sept. 15 Senate Vote Is Pivotal for Clarity Act
Summary
- Ripple's CLO said the Clarity Act, the first procedural vote on the Senate floor on Sept. 15, and whether it can secure 60 votes will mark the key inflection point.
- He said the SEC and CFTC are emphasizing crypto-related rulemaking, close cooperation, and the view that legislation provides a more stable framework than regulation.
- The SEC said its Regulation Crypto Assets proposal includes provisions covering digital asset offerings, exemptions from existing securities registration requirements, a startup exemption, and a capital-raising exemption.
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Ripple Chief Legal Officer Stuart Alderoty said Sept. 15 will be a pivotal date for determining whether the Clarity Act, a US crypto market structure bill, can advance through Congress.
Alderoty told The Block on Aug. 18 at the Wyoming Blockchain Symposium 2026 that the bill has a realistic path to passage. The first procedural vote on the Senate floor is set for Sept. 15, and opening consideration of the bill will require 60 votes. Alderoty also serves as president of the National Cryptocurrency Association, or NCA.
He said Sept. 15 will be the watershed moment for gauging the bill's chances in Congress and added that he hopes it passes. Even if the measure falls short, regulators will keep moving ahead, he said. The Securities and Exchange Commission and the Commodity Futures Trading Commission have both said publicly they will continue writing crypto-related rules, and their closer cooperation marks a positive shift from the past.
Alderoty said passage of the bill should remain the top priority because legislation offers a more stable framework than regulation. Laws are very difficult to reverse, he said. Regulation will follow in one form or another, but what the industry ultimately wants is legislation.
He also warned that the US could lose jobs, investment and innovation opportunities if the bill fails. If Congress does not pass the measure, the country risks missing a major opportunity and seeing the economic benefits flow overseas. NCA research shows the US crypto industry supports 232,000 jobs and generates $55 billion in economic activity.
The SEC on the same day released Regulation Crypto Assets. The proposal, based on guidance issued by the SEC and CFTC in March, would exempt certain digital asset offerings that meet specified conditions from existing securities registration requirements. It includes a startup exemption for offerings of up to $5 million over four years and a capital-raising exemption for offerings of up to $75 million over one year. SEC Chair Paul Atkins described the proposal as another step to attract crypto-market innovation to the US.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.