Ripple CEO Vows Post-Mortem After CLARITY Act Defeat
Ripple CEO Brad Garlinghouse expressed disappointment and frustration over the failure of the CLARITY Act in the US Senate, which he described as a 'painful loss' for the industry. The bill, aimed at clarifying the regulatory framework for digital assets, fell short of the required 60 votes needed to advance.
Garlinghouse blamed Democratic opposition for the defeat, stating that politics took precedence over good policy. He vowed to provide a detailed post-mortem analysis of what went wrong and why the bill collapsed.
Despite the setback, Garlinghouse remained optimistic about the future of crypto and Ripple's business, pointing out that momentum remains strong globally. He noted that regulatory efforts will continue through rulemaking, with Ripple staying actively engaged in the process.