Ripple CEO Says Failed US Senate Clarity Act Vote Is Disappointing, Remains Optimistic on US Crypto
Summary
- Ripple CEO Brad Garlinghouse said he was disappointed by the failed U.S. Senate vote on the Clarity Act.
- He said the Clarity Act was intended to help the broader industry, consumers and the U.S. establish itself as a global digital-asset hub and a leader in the future of finance.
- Garlinghouse said he remains optimistic about the future of the U.S. digital-asset market, with the SEC and CFTC set to continue writing rules and Ripple planning to take an active role.
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Brad Garlinghouse, chief executive officer of Ripple, expressed disappointment after the U.S. Senate failed to pass the Clarity Act, but maintained an optimistic view on the future of the U.S. digital-asset industry.
On Sept. 15, Garlinghouse wrote on X, formerly Twitter, that he had "done everything possible" to secure passage of the Clarity Act. He said the bill was not an opportunity for Ripple or any single company, but for the broader industry, consumers and the U.S. to establish itself as a global center for digital assets and a leader in the future of finance.
He added that consumers and U.S. competitiveness were ultimately pushed aside and said the vote's outcome requires post-mortem analysis.
Garlinghouse also said he remains optimistic about the future of the U.S. digital-asset market. He said the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission would continue working on rules to fill the legislative gap. Ripple, he added, will also actively participate in the rulemaking process.
JH Kim
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