Ripple and crypto industry leaders backed the Senate’s CLARITY Act ahead of a key markup, citing clearer rules, stronger consumer protections, and U.S. leadership. Ripple’s legal chief cited a report estimating 67 million Americans hold crypto.
Key Takeaways:
- Ripple executives backed the Senate’s CLARITY Act before a Banking Committee markup.
- Supporters say the bill could strengthen consumer protections and digital asset oversight.
- Lawmakers will use revised text shaped by regulators, advocates, and industry input.
Ripple and Crypto Leaders Rally Around CLARITY Act
Ripple executives publicly backed the Senate’s CLARITY Act on May 13 before the Banking Committee markup. CEO Brad Garlinghouse praised lawmakers for advancing the proposal and framed the legislation as a major moment for U.S. crypto policy. Ripple’s support focused on regulatory clarity, investor protections, and maintaining American leadership in digital assets.
“The Senate Banking Committee is putting in the work as it moves the Clarity Act forward… incredible leadership! Millions of Americans are already in this market,” Garlinghouse wrote on X, adding:
“Ripple stands behind this bill because they deserve the same rules and protections as every other asset class. If the largest economy in the world is going to lead on crypto – and it must – this is the moment. Let’s get it done!”
Stuart Alderoty, chief legal officer at Ripple and president of the National Crypto Association, also voiced support on X. He cited the National Crypto Association’s 2026 State of Crypto Holders Report, which estimated that 67 million Americans hold crypto today. Alderoty described holders as construction workers, retirees, small business owners, and parents across every income level, industry, and state. He stated: “They deserve clear rules. They deserve strong consumer protections. And they deserve a regulatory framework that allows responsible innovations to grow here in the United States. The Clarity Act markup tomorrow is a meaningful step forward.”
Senate CLARITY Act Draws Broad Industry Support
Industry and policy voices also backed the CLARITY Act on May 13, as supportive comments spread across social media ahead of the markup. Former White House crypto and AI czar David Sacks called the markup “a monumental step” toward making the U.S. the “ Crypto Capital of the World.” Strategy CEO Phong Le said clarity would improve financial outcomes and expand access across financial markets. Fidelity Public Policy, the policy arm of Fidelity Investments, said the bill would provide statutory clarity for digital asset markets while benefiting investors and supporting U.S. leadership in digital assets.
Senator Tim Scott stated:
“Families, small businesses, investors, and innovators deserve clear rules of the road for digital assets. The Senate’s version of the CLARITY Act delivers certainty, safeguards, and accountability, while protecting Main Street, strengthening national security, and keeping innovation in America.”
The CLARITY Act text released by Scott, Sen. Cynthia Lummis, and Sen. Thom Tillis on May 12 will serve as the basis for the Banking Committee markup on May 14. Committee Republicans said the proposal reflects negotiations with Democratic colleagues and input from regulators, law enforcement officials, financial institutions, innovators, and consumer advocates. The proposal focuses on market structure rules for digital assets.
