Ripple is pressing U.S. lawmakers to support the CLARITY Act, arguing that opposition to the bill would preserve the same regulatory gaps that left crypto customers exposed in past failures such as FTX. Lauren Belive, Ripple’s co-head of global public policy and government affairs, said resisting the legislation is not simply a stance against the crypto industry but a position that works against consumers by leaving digital asset holders vulnerable to bad actors exploiting regulatory arbitrage. She said the U.S. digital asset market already exists, while federal consumer protections still have not caught up. According to Belive, the gap exposed by FTX’s collapse and the resulting customer fund losses remains unresolved. She added that the CLARITY Act would give the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission clear joint authority over digital asset markets, while requiring tokens to face regulatory oversight before entering the market. Ripple Chief Legal Officer Stuart Alderoty, who also serves as president of the National Cryptocurrency Association, said blocking the bill would allow the current unregulated situation to continue and be used by bad actors.
Ripple is urging the U.S. Senate to support the CLARITY Act, arguing that opposition to the bill would keep key regulatory gaps in place for the digital asset market.
Lauren Belive, Ripple’s co-head of global public policy and government affairs, said opposing the CLARITY Act is not a position against the crypto industry, but one that is "anti-consumer." She said such opposition would leave crypto holders exposed to bad actors that take advantage of regulatory arbitrage.
Belive said the U.S. digital asset market already exists, but federal rules meant to protect consumers have not kept pace. She added that the regulatory gap highlighted by the collapse of FTX, which led to losses of customer funds, still remains.
She said the CLARITY Act would give the U.S. Securities and Exchange Commission, or SEC, and the U.S. Commodity Futures Trading Commission, or CFTC, clear joint jurisdiction over digital asset markets. The bill would also require tokens to undergo regulatory oversight before entering the market.
Ripple Chief Legal Officer Stuart Alderoty, who is also president of the National Cryptocurrency Association, said opposition to the CLARITY Act would allow the current unregulated environment to continue and leave room for bad actors to exploit it.
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