Ripple Taps Ordinary Americans to Save CLARITY Act From Democratic Hurdles
Ripple's chief legal officer Stuart Alderoty is using an unconventional tactic to persuade undecided senators to support the CLARITY Act. He has been visiting their offices, asking them to meet with ordinary cryptocurrency holders before voting on the bill.
Alderoty claims that 67 million Americans hold digital assets, and that these individuals are not just limited to tech-savvy enthusiasts, but include teachers, nurses, veterans, construction workers, parents, and small business owners. He also points out that there are 232,000 crypto-adjacent jobs in the U.S., generating roughly $55 billion in economic activity.
The CLARITY Act would establish a federal market-structure framework for digital assets, dividing oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). If passed, it would be the largest expansion of CFTC authority in history. The bill has already cleared the Senate Banking Committee 15-9 in May, but is facing opposition from a bloc of Democrats who are hesitant to support it.
Alderoty believes that meeting with real cryptocurrency holders will help senators understand the impact of the bill on their constituents. 'More crypto holders in this country work in manufacturing and construction than work in finance and tech,' he said, highlighting the diversity of the group.