Ripple CEO Stresses Need for CLARITY Act to Boost Crypto Industry

Ripple CEO Brad Garlinghouse has underscored the importance of the CLARITY Act, a bill that aims to provide clarity and legal certainty for digital assets in the US. Speaking at an event, he emphasized that while Ripple already enjoys this clarity due to a court ruling establishing XRP as a non-security, the industry as a whole does not.

Garlinghouse pointed out that banking executives are hesitant to engage with crypto due to concerns about regulatory uncertainty beyond the current administration. He noted that even with a favorable regulatory posture, there is always a risk of reversal by the next administration, making codification into law essential.