Ripple's Garlinghouse: Crypto Can Thrive Without US Regulatory Framework

The XRP price dropped sharply last week after US legislators rejected the CLARITY Act. The bill aimed to provide a legislative framework for digital assets, but it failed to pass due to lack of votes. Ripple CEO Brad Garlinghouse expressed his disappointment with the outcome but stated that the crypto industry can continue to grow without the bill.

The XRP price fell by 10% following the Senate vote, and other cryptocurrencies such as ETH, Solana, Hyperliquid, and Zcash also saw significant drops. The failure of the CLARITY Act has raised concerns about regulatory uncertainty in the US market, but Garlinghouse remains optimistic that the industry can thrive without intervention from lawmakers.

Garlinghouse noted that the CFTC and SEC will continue to formulate rules to address the regulatory gap left by the stalled progress of the bill. He stated that the vote failure would not affect XRP's momentum or investor demand, citing international expansion as a key driver of growth for the asset.