Crypto
Ripple's Garlinghouse Backs CLARITY Act with Bipartisan Amendments
Ripple CEO Brad Garlinghouse has expressed support for the CLARITY Act, a US digital asset bill revised with 126 Democratic amendments. These changes address ethics, DeFi oversight, and stablecoin regulations, aiming to protect community banks from deposit flight.
The bill also proposes splitting regulatory duties between the SEC and CFTC. Treasury Secretary Scott Bessent has urged senators to advance the bill, citing its importance in securing US leadership in crypto.
A procedural Senate vote on September 15 will determine if the bill moves forward for full debate. Industry leaders are urging progress despite compromises.