Garlinghouse Presses Congress for Crypto Regulatory Clarity

Ripple CEO Brad Garlinghouse is urging Congress to complete the country's regulatory framework for digital assets, which he believes will make the United States the global center of the cryptocurrency industry.

The CLARITY Act, a landmark market-structure bill, is currently pending in Congress and would divide oversight responsibilities between the SEC and CFTC. A cloture vote is scheduled for September 15, but analysts warn that the bill may not clear Congress before the midterm elections, which could shift consideration into the post-election lame-duck session.

Garlinghouse joined other industry executives at a White House meeting on August 19, where they discussed the administration's commitment to keeping the next generation of financial infrastructure on American soil. The meeting underscored the breadth of the administration's outreach and its policy direction, which requires legislation or agency rulemaking to become durable regulatory reality.