Ripple CEO Blames Senate Democrats for CLARITY Act Failure

Ripple CEO Brad Garlinghouse has criticized Senate Democrats for the failure of the CLARITY Act, which aimed to provide clarity on crypto regulations in the US.

Garlinghouse said that the bill's failure leaves consumers and US competitiveness behind, and he blamed 'the politics of the democrats' for its demise.

The regulatory setback may shift focus towards rulemaking by the SEC and CFTC, with Garlinghouse expecting the agencies to continue developing rules for crypto assets.

Ripple plans to remain actively involved in this process, despite the failure of the Senate vote not affecting their business momentum.