Ripple Leaders Back CLARITY Act as CEO Urges Passage

Ripple executives publicly backed the CLARITY Act as the Senate debated a federal framework for digital assets. On July 22, CEO Brad Garlinghouse amplified comments from the company’s chief legal officer and urged lawmakers to approve the measure.

Ripple’s chief legal officer, Stu Alderoty, described the CLARITY Act as ‘a consumer protection bill featuring stronger anti-money laundering requirements, enforcement tools for law enforcement agencies, and authority for state attorneys general.’ Garlinghouse repeated that view and added: ‘My thoughts exactly… Perfect can’t be the enemy of good. Let’s get this done!’

The company has stepped up outreach in Washington, including a public CLARITY Act truck campaign and other efforts to inform lawmakers and the public about the bill’s provisions.

Senator Cynthia Lummis (R-Wyo.), a lead sponsor, has defended the legislation as a way to clarify which federal regulators oversee different aspects of the digital-asset market and to sharpen enforcement tools. Some Senate Democrats have raised concerns about parts of the draft that they say need stronger consumer safeguards, oversight mechanisms and financial protections before they can back final passage.

Support for the CLARITY Act extends beyond crypto firms. Financial firms including Fidelity and senior executives at Goldman Sachs have urged congressional action, citing the need for regulatory certainty as institutional involvement in crypto grows. More than 200 organizations, among them Ripple and Coinbase, have called for progress on the bill, while technology groups representing roughly 1,200 companies have pressed for a federal framework. The grassroots group Stand With Crypto has mobilized supporters to contact legislators.

Lauren Belive, Ripple’s global co-head of public policy and government, warned that rejecting the bill could leave users exposed to risks similar to those that followed the collapse of FTX. Ripple argues that clearer federal rules would give legitimate digital-asset firms defined operating standards and better equip regulators to address misconduct.

Debate within Congress centers on how to divide oversight among agencies, how strong consumer protections should be, and how far enforcement authority should extend. Lawmakers are negotiating language and potential amendments as the CLARITY Act remains under consideration in the Senate and stakeholders continue to lobby for changes or passage.