Ripple CEO says U.S. crypto leadership within reach as CLARITY Act heads to Senate vote

Ripple chief executive Brad Garlinghouse told investors on Sept. 3 that making the United States the global hub for cryptocurrency is still achievable, but he urged lawmakers to finish the pending regulatory framework.

White House engagement on crypto policy

An August 19 White House meeting brought together senior executives from the crypto, finance and technology sectors with top federal regulators. Attendees included Garlinghouse, Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev, Kraken co‑CEO Arjun Sethi, Nasdaq CEO Adena Friedman, ICE CEO Jeffrey Sprecher, Gemini co‑founders Cameron and Tyler Winklevoss, and Chainlink co‑founder Sergey Nazarov. SEC Chair Paul Atkins and CFTC Chair Michael Selig represented the two principal market regulators.

Following the gathering, CFTC Chair Selig said the administration wants the “new frontier of finance” built in the United States, underscoring the policy direction toward domestic innovation.

The CLARITY Act as the legislative focal point

The Digital Asset Market Clarity Act (CLARITY Act) seeks to define federal regulatory responsibilities for digital‑asset intermediaries and certain assets. The House has passed its version, while the Senate is considering an amended bill. A cloture vote is scheduled for Sept. 15 and requires at least 60 senators to move the measure forward.

Senate negotiations have highlighted disagreements over decentralized finance, consumer protections, stable‑coin rewards and ethics restrictions. Garlinghouse has repeatedly called for a workable compromise, noting that passage is essential for the United States to claim crypto leadership.

Congressional timing constraints

If cloture succeeds, the Senate must still approve the bill, reconcile any differences with the House version, and send it to the president. The House is slated to be in session for only four legislative days after Sept. 15 before another recess, leaving a narrow window for final action. Failure to complete the process before the midterm election campaign could push consideration into the lame‑duck session.

Agency guidance versus statutory authority

The SEC and CFTC have issued guidance on digital assets, affecting enforcement and disclosure expectations. However, agency statements cannot replace the statutory division of authority that the CLARITY Act would establish, and future rulemaking could be subject to legal challenges.

The upcoming Senate cloture vote will be the next key test of whether the administration’s policy support can translate into binding law.