Ripple's Garlinghouse Pushes for Clarity Act Passage Amid Industry Uncertainty

Ripple CEO Brad Garlinghouse spoke before the CFTC Innovation Advisory Committee, arguing for the passage of the Clarity Act. He cited the company's $150 million legal bill over a four-year SEC lawsuit as evidence that regulatory uncertainty imposes significant costs on the industry.

Garlinghouse claimed that 80% of Ripple's hiring during this period was outside the US, resulting in a lasting impact on the company's footprint. London remains Ripple's second-largest office today, according to Garlinghouse.

He attributed these effects to the lack of clear rules and praised recent shifts at the CFTC and SEC as steps towards establishing formal regulatory clarity. This, he believes, is essential for crypto adoption, compliance, faster payments, and continued innovation.