Ripple Supports CLARITY Act—Garlinghouse Says 'This Is the Moment'

Ripple and other crypto industry leaders backed the Senate’s CLARITY Act ahead of a key Senate Banking Committee markup, arguing the proposal would deliver clearer rules, stronger consumer protections, and help maintain U.S. leadership in digital assets. Ripple’s chief legal officer cited a report estimating that 67 million Americans hold crypto.

Ripple leaders cite regulatory clarity and consumer protections

Ripple executives publicly supported the Senate’s CLARITY Act on May 13 ahead of the Banking Committee markup. CEO Brad Garlinghouse said the legislation represents a major moment for U.S. crypto policy, emphasizing regulatory clarity and investor protections.

Garlinghouse wrote that the bill would ensure crypto receives rules and protections comparable to other asset classes, adding: “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!”

Stuart Alderoty, Ripple’s chief legal officer and president of the National Crypto Association, also backed the bill. He pointed to the National Crypto Association’s 2026 State of Crypto Holders Report, which estimated that 67 million Americans hold crypto. Alderoty described holders as including construction workers, retirees, small business owners, and parents across income levels, industries, and states, and said: “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.”

Broader industry support ahead of the Banking Committee markup

Support for the CLARITY Act spread across industry and policy voices on May 13 as the markup approached. 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 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 supporting U.S. leadership in digital assets.

Lawmakers frame the bill as “clear rules of the road”

Senator Tim Scott said the Senate’s version of the CLARITY Act would provide “certainty, safeguards, and accountability,” while protecting “Main Street,” strengthening national security, and keeping innovation in America.

Markup basis and focus on market structure rules

The CLARITY Act text released by Scott, Sen. Cynthia Lummis, and Sen. Thom Tillis on May 12 is set to 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 officials, financial institutions, innovators, and consumer advocates, with a focus on market structure rules for digital assets.