Ripple CEO Brad Garlinghouse on May 13 praised the U.S. Senate Banking Committee’s advancement of the “CLARITY Act” on X, saying crypto assets should receive the same rules and protections as other asset classes, and adding, “If the world’s largest economies are to take a leading role in crypto—and it must—now is the time.”
Ripple executives’ specific positions and cited figures
Two positions confirmed by Brad Garlinghouse on X: first, Ripple supports the “CLARITY Act,” because “crypto assets should have the same rules and protections as other asset classes”; second, he believes that if the U.S. wants to lead in crypto, “now is the time.”
Specific data cited by Stuart Alderoty: Alderoty cited the “2026 Cryptoasset Holder Sentiment Report” published by NCC, confirming that there are currently about 67 million Americans holding cryptocurrencies, with holders including construction workers, retirees, small business owners, and parents from different income tiers, industries, and states. Alderoty, in his statement, confirmed: “They deserve clear rules, strong consumer protections, and a regulatory framework that will allow responsible innovation to flourish here in the United States.”
Confirmations from other institutions and political figures
David Sacks (former White House lead for crypto and AI issues): on X, he called the hearing a “milestone step” toward making the U.S. “the world’s crypto capital.”
Fidelity Public Policy: on X, it confirmed that the “CLARITY Act” will provide legal clarity for the digital asset market, benefiting investors and supporting the U.S.’s leadership in the digital asset space.
Strategy CEO: said that clear regulations will improve financial outcomes and broaden access to financial markets.
Senator Tim Scott: said, “Families, small businesses, investors and innovators deserve clear rules on digital assets,” noting that the “CLARITY Act” provides certainty, safeguards, and accountability mechanisms, while protecting ordinary people, strengthening national security, and ensuring innovation stays in the U.S.
The drafting process for the text released on May 12
A 309-page text jointly released by Senators Scott, Lummis, and Tillis on May 12 served as the basis for the May 14 Senate Banking Committee review. Committee Republican members confirmed that the proposal reflects negotiations with Democratic colleagues and incorporates input from regulators, law-enforcement officials, financial institutions, innovators, and consumer advocates. The bill focuses on market-structure rules for digital assets.
FAQ
What is the source of the 67 million-coin-holder figure cited by Stuart Alderoty?
Alderoty cites the “2026 Cryptoasset Holder Sentiment Report” published by the U.S. National Crypto Association (NCC). The report shows that holders include various groups such as construction workers, retirees, and small business owners. Alderoty uses this to argue that the “CLARITY Act” serves a broad swath of ordinary Americans, rather than a specific industry group.
How was the bill text released on May 12 formed?
According to a statement by committee Republican members, the May 12 released text integrated input from regulators, law-enforcement officials, financial institutions, innovators, and consumer advocates, and had been negotiated with Democratic colleagues. The bill focuses on market-structure rules for digital assets, and the May 14 review was based on this text.
What are the different emphases in David Sacks and Fidelity’s positions?
David Sacks’s remarks emphasized the geopolitical dimension—calling the bill’s passage a milestone that would make the U.S. “the world’s crypto capital.” Fidelity Public Policy’s statement focused on legal clarity and investor protection, which is closer to the “equal rules” and “holder protections” arguments emphasized by Garlinghouse and Alderoty.
