US Crypto Leadership Within Reach, Garlinghouse Says Ahead of Crucial Senate Vote
Ripple CEO Brad Garlinghouse believes that making the United States the global center of cryptocurrency is still within reach. This statement comes as lawmakers face a narrow window to complete federal market rules for digital assets.
A White House meeting on August 19 brought together leaders from the crypto, finance, and technology sectors. Attendees included Garlinghouse, Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev, and Kraken co-CEO Arjun Sethi, among others.
The Digital Asset Market Clarity Act (CLARITY Act) remains central to the administration's market-structure plan. The measure would divide regulatory responsibilities and set rules for intermediaries and certain digital assets. However, agency statements alone cannot create lasting regulatory changes; legislation or rulemaking is required.
Garlinghouse has supported a workable compromise on the CLARITY Act, even as Senate Democrats sought additional ethics and enforcement provisions in July. A successful cloture vote would not finish the legislative process, but rather set the stage for further negotiations between the House and Senate versions of the bill.