Garlinghouse: CLARITY Act Paves Way for US Crypto Dominance
Ripple CEO Brad Garlinghouse believes that making America the global center of crypto is 'within reach,' thanks to ongoing efforts to pass a federal regulatory framework for digital assets and crypto companies.
The key legislation driving this push is the CLARITY Act, which aims to clarify the regulatory boundary between securities and commodities laws in the US. The bill has already passed the House and been modified by the Senate Committee on Banking, Housing, and Urban Affairs, and now awaits a crucial vote in the Senate.
Garlinghouse sees this legislation as essential for providing legal certainty to the domestic crypto industry, which has long sought clear guidelines on how to operate within US laws. The CLARITY Act would also establish tailored operational standards and divide crypto regulation between the SEC and CFTC.