Ripple CEO Brad Garlinghouse has expressed support for advancing the CLARITY Act, a proposed U.S. crypto legislation, following Treasury Secretary Scott Bessent's call for Congress to act. Garlinghouse emphasized the importance of progress over perfection in a post on X, aligning with Bessent's push for a federal market structure bill for digital assets. Bessent highlighted the need for clear federal standards to retain crypto development and investment within the U.S., as current regulations remain ambiguous. The CLARITY Act, which aims to provide a workable framework for digital asset markets, has been a priority for the crypto industry. The House of Representatives passed its version in July, but the bill has stalled due to debates over stablecoin rewards. A recent White House report challenged the banking industry's push for a yield ban on stablecoins, suggesting such a ban would have minimal impact on bank lending. The report's findings may influence ongoing negotiations as lawmakers consider the bill's scope.
Ripple CEO Backs Push for CLARITY Act Amid U.S. Crypto Legislation Debate
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