Ripple executives publicly backed the Senate's CLARITY Act on May 13, just before the Banking Committee markup. CEO Brad Garlinghouse praised lawmakers on X for advancing the proposal, framing it as a major moment for U.S. crypto policy. He emphasized that millions of Americans are already in the market and deserve the same rules and protections as every other asset class.
Garlinghouse: 'This Is the Moment' for US Crypto Policy
“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. He added: “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!”
Alderoty Cites Data: 67M Holders Across All Walks of Life
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, estimating that 67 million Americans hold crypto today. These holders include 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.”
Broad Industry and Policy Support
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.
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.”
CLARITY Act Core Provisions
The 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, financial institutions, innovators, and consumer advocates. The proposal focuses on market structure rules for digital assets.
A Harrisx poll found that after reviewing the bill, 52% of voters support the CLARITY Act, and 70% believe the U.S. should have already passed crypto legislation, indicating some public backing.