Ripple Urges Senators to Hear from 67 Million American Crypto Holders Before CLARITY Act Vote

Ripple's Chief Legal Officer Stuart Alderoty has called on undecided and opposing senators to hear from an estimated 67 million American crypto holders before a procedural vote on September 15.

Alderoty asked lawmakers to meet directly with these individuals, rather than relying solely on industry executives and lobbyists. This appeal is based on research that suggests nearly one in four American adults holds some form of digital asset.

The CLARITY Act, currently being debated in the Senate, aims to create a federal market structure for digital assets and divide oversight duties between the Securities and Exchange Commission and the Commodity Futures Trading Commission. However, ethics provisions remain a major point of contention, with Democrats seeking tighter restrictions on digital-asset activities involving the president and senior government officials.

The bill's prospects are uncertain, with Senator Mike Rounds cautioning that it 'doesn't look good right now' without further compromise from lawmakers and the White House. A cloture vote is scheduled for September 15, requiring support from at least seven Democrats or independents to pass, assuming all Republicans back the motion.