Ripple CEO Brad Garlinghouse has tied JPMorgan’s criticism of the US CLARITY Act to the bank’s own financial interests in payments. He said JPMorgan generates $20 billion in revenue and more than $5 billion in profit from that business, arguing that Jamie Dimon’s position is aimed at defending a highly profitable franchise rather than reflecting pure compliance concerns.
The dispute centers on the CLARITY Act, a bill intended to create clearer rules for the digital asset market. Reports say Congress has roughly 16 legislative days left to review the proposal before the August recess. That narrow window has sharpened the clash between regulators, large banks, and crypto firms.
Debate turns on how the bill would shape oversight
Dimon has argued that the legislation could weaken compliance processes and open room for bad actors. CFTC Chairman Michael Selig rejected that reading, saying the purpose of the bill is being mischaracterized. In his view, the measure is not designed to reduce oversight, but to protect American investors while keeping innovation in the US instead of driving it offshore.
Garlinghouse pushed back in blunt terms. He said portraying the CLARITY Act as harmful is either a deliberate misrepresentation or a serious oversight. Ripple also pointed to what it sees as the cost of regulatory uncertainty in the US: about 90% of digital asset transactions have moved outside the country, leaving American users with fewer protections.
Ripple is positioning for bank and enterprise demand
Ripple, known for cross-border payment technology and enterprise blockchain infrastructure, says its main focus is not retail users but banks, brokerages, and financial managers. Garlinghouse said passage of the bill could bring some capital back into the US and give banks and large corporations a clearer legal framework for digital asset activity.
The company’s current growth plan rests on three areas: liquidity management tools, its stablecoin RLUSD, and payment products for autonomous AI agents built on the XRP Ledger. Reports cited in the source say RLUSD became one of the world’s five fastest-growing stablecoins within 18 months of launch. Ripple also announced an AI Starter Kit designed to connect autonomous AI agents to payment systems.
Congressional timing now matters for institutional crypto plans
Ripple executives frame the CLARITY Act battle as more than a policy argument. They see it as a key test for institutional adoption following the company’s recent legal proceedings. With large market participants said to be ready to move, the next step depends on whether Congress acts before its upcoming recess.