Ripple Vet Slams Senator Hawley Over CLARITY Act Vote

Ripple's former Chief Technology Officer (CTO) Emeritus David Schwartz fired back at Senator Josh Hawley after he explained his vote against the CLARITY Act. The bill, which aimed to provide a federal regulatory framework for crypto assets, failed to pass with 49 votes in favor and 51 against.

Hawley cited concerns about Missouri's agricultural economy, saying that farmers feared they wouldn't be able to get loans from small-town banks due to investors leaving those banks in search of higher yields under the bill. He also mentioned that Senator Jerry Moran has proposed language to fix this issue, calling it 'pretty doable.'

However, Schwartz rejected Hawley's stated reasoning, suggesting that financial self-interest was the driving force behind the opposition. He pointed out that multiple bank groups came together to oppose the bill and that their influence likely drove Hawley's vote.