Ripple CEO: Failure to Pass the CLARITY Act Is Heartbreaking; the Industry Has Spared No Effort

BlockBeats news, September 16 — Ripple CEO Brad Garlinghouse said it is deeply disheartening that the CLARITY Act failed to pass a key procedural vote. Our team poured everything into getting the bill across the finish line, as did most of the industry. This was an opportunity bigger than Ripple or any single company — we were doing it for the entire industry, for consumers, and to cement the United States as the global crypto capital and future financial leader. In the end, consumers and America's competitiveness were left behind.

There are still reasons for optimism in the U.S. crypto industry. The SEC under Chairman Atkins and the CFTC under Chairman Selig will continue working to issue rules that fill the legislative gaps; we will also continue to actively participate in this rulemaking process.