Ripple executives threw their support behind the Senate's CLARITY Act on May 13, one day before the Banking Committee's markup session. CEO Brad Garlinghouse took to X to praise lawmakers for advancing the proposal, framing it as a decisive moment for U.S. crypto policy.
Ripple Leaders: 'This Is the Moment'
Garlinghouse wrote: “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. 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!” Chief Legal Officer Stuart Alderoty, who also serves as president of the National Crypto Association, echoed the sentiment, citing the association's 2026 State of Crypto Holders Report which estimates that 67 million Americans currently hold crypto. He described these holders as construction workers, retirees, small business owners, and parents across all income levels, industries, and states. “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,” Alderoty stated.
Broad Industry Support Emerges
The CLARITY Act also garnered backing from a wide range of industry and policy figures on May 13. 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 that regulatory 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 reinforcing U.S. leadership in digital assets. Senator Tim Scott, a key sponsor, emphasized: “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 bill text released by Scott, Sen. Cynthia Lummis, and Sen. Thom Tillis on May 12 serves as the basis for the May 14 markup. Committee Republicans said the proposal reflects negotiations with Democratic colleagues and input from regulators, law enforcement, financial institutions, innovators, and consumer advocates, with a focus on market structure rules for digital assets.