Ripple CEO Says Crypto Can Outlast CLARITY Setback
Garlinghouse said better technology will keep crypto advancing as Ripple backs federal market rules after the Senate rejected cloture 49-50.
- On September 15, Ripple CEO Brad Garlinghouse argued in Kansas City that crypto growth will persist despite legislative setbacks, stating, "When you have a technology that's better, faster, stronger… that usually wins."
- Hours after Garlinghouse's comments, the Senate rejected cloture on the CLARITY Act in a 49-50 vote, as Republican Senators Susan Collins, Josh Hawley, Jerry Moran, and Thom Tillis joined the opposition.
- Bitcoin fell more than 5% as markets weakened following the vote, producing its largest daily percentage decline since June; exchanges liquidated roughly $571 million in long positions over 24 hours.
- Senate Banking Committee Chairman Tim Scott stated after the vote that the SEC and CFTC should establish "clear rules of the road" using existing authority, while Ripple confirmed continued advocacy for market legislation.
- Ripple has spent more than $150 million on SEC litigation and plans to remain engaged with federal regulators; while the CLARITY Act remains stalled, the company continues relying on previous federal agency interpretations involving Digital Assets.
22 Articles
22 Articles
Ripple CEO Sees Reason for Crypto Optimism After CLARITY Act Defeat
Ripple CEO Brad Garlinghouse says there is still reason for optimism about U.S. crypto after the CLARITY Act failed to advance, pointing to continued SEC and CFTC rulemaking while stressing that the company’s business momentum remains intact. Garlinghouse Looks Beyond Failed Senate Vote Ripple CEO Brad Garlinghouse is looking beyond Congress after the CLARITY Act […]
Ripple CEO Says Crypto Sector Can Grow Beyond CLARITY Act
Ripple CEO Brad Garlinghouse said the cryptocurrency sector’s long-term growth does not depend solely on the CLARITY Act becoming law. Speaking at The Economic Club of Kansas City on September 15, he argued that faster and more capable technology could drive adoption despite regulatory setbacks. His comments followed the Senate’s failure to advance the market structure bill in a 49-50 procedural vote.
Yesterday the U.S. bill on cryptocurrencies, known as the Clarity Act, was rejected by the Senate. This rejection in theory could also decree its definitive end, but in reality there is some possibility that it can be resurrected. The problem is not only the timing, but also the majority that supports it. Problem 1: the [...]
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