Garlinghouse Blasts Democrats for Blocking Crypto Regulation Bill

Ripple CEO Brad Garlinghouse criticized Democratic politics for the Senate's failure to advance the CLARITY Act, a crypto regulation bill. He called them the 'anti-crypto army' and stated that they voted against proceeding with the bill by a narrow margin of 50-49.

The vote marked a setback for the crypto industry, but Garlinghouse remains optimistic about future crypto regulation in the U.S. He cited ongoing efforts by the SEC and CFTC to fill regulatory gaps as evidence of progress.

Ripple's business, meanwhile, remains strong and unaffected by the vote outcome, according to Garlinghouse. XRP is trading at Rp22.763 on Pluang, down 10.98% in one day, but its market cap remains substantial at Rp1.414,85 trillion.