Ripple CEO Brad Garlinghouse is urging U.S. lawmakers to move forward with the Digital Asset Market Clarity Act (CLARITY Act) as the bill faces new opposition from a group of Senate Democrats.
Garlinghouse backed comments from Ripple’s Chief Legal Officer, Stuart Alderoty, who argued that lawmakers should not delay the legislation while searching for a perfect solution. He stressed that progress is more important than waiting for complete agreement on every issue.
“Perfect can’t be the enemy of good. Let’s get this done,” Garlinghouse said.
Ripple has been a strong supporter of federal crypto regulations and believes the CLARITY Act would provide clearer rules for the digital asset industry while improving protections for consumers.
However, the bill is facing resistance from seven Senate Democrats. Senators Catherine Cortez Masto, Angela Alsobrooks, Cory Booker, Ruben Gallego, John Hickenlooper, Mark Warner, and Raphael Warnock said the latest version still needs stronger safeguards related to ethics, consumer protection, market integrity, and financial crime prevention.
Senator Elizabeth Warren also criticized the updated proposal, arguing that it does not go far enough in addressing conflicts of interest and investor protection concerns.
Despite the opposition, negotiations are continuing. The senators said they remain open to working toward a compromise but want additional changes before supporting the bill.
Coinbase CEO Brian Armstrong has joined Ripple in pushing for action. He said the legislation is the result of months of negotiations and represents a bipartisan effort to create a clear regulatory framework for the crypto industry.
According to Armstrong, the lack of clear federal rules creates uncertainty for businesses and consumers and may push innovation outside the United States.
The CLARITY Act aims to establish clear rules for digital asset markets and define the responsibilities of different regulators. Supporters say it would improve consumer protection, strengthen oversight, and provide greater legal certainty for crypto companies.
With Congress approaching its August recess, time is becoming an important factor. Supporters of the bill are hoping lawmakers can reach an agreement soon, while opponents continue pushing for stronger protections before giving their support.
For now, the CLARITY Act remains under debate, with its future depending on whether lawmakers can resolve remaining disagreements and secure enough bipartisan support for a Senate vote.
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