Ripple increased pressure for approval of the CLARITY Act in the United States. The company advocates clearer federal rules for the cryptocurrency market.
Ripple CEO Brad Garlinghouse considers the bill an important opportunity for the U.S. to create a defined regulatory framework for digital assets.
According to him, greater regulatory certainty could benefit companies and users while Congress debates the future of cryptocurrencies in the country.
On July 22, Garlinghouse reinforced a statement by Ripple chief legal officer Stu Alderoty. He highlighted CLARITY Act measures aimed at consumer protection.
The proposal also provides for stricter anti-money laundering rules and new enforcement tools for public safety agencies.
Garlinghouse stated: “That’s exactly what I think… Perfect cannot be the enemy of good. Let’s make this happen!”
The discussion comes as senators analyze points related to market oversight, consumer protection, and the division of responsibilities among regulators.
Ripple has also expanded its presence in Washington. The company is promoting public campaigns and actions directed at lawmakers to advocate approval of the CLARITY Act.
Lummis supports bill while Democrats call for changes
Senator Cynthia Lummis, a Republican from Wyoming, also supports the proposal. She highlights anti-money laundering measures, oversight, and clearer rules for regulators.
Some Democratic senators, however, want changes to the current text. The main concerns involve oversight, consumer protection, and financial safeguards.
Lauren Belive, Ripple’s global co-head of public policy and government relations, said that rejecting the CLARITY Act could keep users exposed to regulatory failures seen in previous cases, such as the collapse of FTX.
Fidelity and tech companies support bill
Support for the CLARITY Act has also grown outside the cryptocurrency sector. Fidelity called for greater regulatory certainty amid rising institutional participation.
More than 200 organizations, including Ripple and Coinbase, supported progress in the legislation. In addition, more than 1.200 tech companies supported a federal framework for cryptocurrencies.
Stand With Crypto is also mobilizing users and voters to pressure members of Congress, while the Senate debates the text and the next steps for the CLARITY Act.
