US Crypto Leadership Within Reach as Congressional Deadline Looms

Ripple CEO Brad Garlinghouse believes that making the United States the global center of cryptocurrency is still 'within reach.' This statement follows a recent White House meeting between leaders from crypto, finance, and technology companies. The gathering included executives such as Coinbase's Brian Armstrong, Robinhood's Vlad Tenev, and Kraken's Arjun Sethi.

The Digital Asset Market Clarity Act (CLARITY Act) remains central to the administration's market-structure plan. This legislation would divide regulatory responsibilities and set rules for intermediaries and certain digital assets. The House has already passed its version of the bill, but Senate approval is still needed before it can move forward.

Congress faces a tight deadline to complete federal market rules, with only 14 working days remaining under the current calendar. If lawmakers fail to pass the CLARITY Act by September 15, they may need to revisit the issue during the post-election lame-duck session.