Ripple CEO Attributes CLARITY Act Failure to Democratic Politics
The Ripple CEO, Brad Garlinghouse, criticized Senate Democrats for the failure of the CLARITY Act on September 18. The bill aimed at regulating cryptocurrencies did not advance due in part to concerns over ethics provisions related to President Donald Trump's crypto interests and opposition from some Republicans. Despite this setback, Garlinghouse expressed optimism about future rulemaking by the SEC and CFTC as potential avenues for regulatory clarity. Ripple remains confident that its XRP token is on 'settled ground' under current interpretations of federal securities laws. The company plans to stay engaged in shaping regulations through these agencies while maintaining business momentum despite recent price declines below key support levels. Institutional demand, however, has shown resilience with U.S. spot XRP ETFs recording no outflows recently.
Topics: CFTC CLARITY Act crypto regulation Ripple SEC XRP