What to Know:
- The CLARITY Act cleared the Senate Banking Committee with a 15-9 bipartisan vote.
- Ripple says the bill brings long-awaited rules for the crypto industry.
- The vote exposed deep divisions between lawmakers, DeFi advocates, and industry leaders.
The crypto industry has spent years asking for rules. Now, the CLARITY Act may finally offer them. Ripple, the San Francisco blockchain company, is backing the legislation as it kinda moved out of the Senate Banking Committee, and not in a small way. The bill cleared the chamber on Thursday with a 15-9 bipartisan tally.
Ripple Chief Legal Officer Stuart Alderoty called the committee decision a “monumental outcome” for digital assets. Writing on X, he said the vote showed that Washington now understands the need for clear rules in the crypto market.
Alderoty also gave thanks to Senators Tim Scott, Angela Alsobrooks, Bernie Moreno, and Ruben Gallego for helping move that legislation forward, basically. It was, in a way, a kind of nudge along the process.
Also Read: Bitcoin Tops $80K Ahead of US Senate CLARITY Act Vote
CLARITY Act Gains Powerful Industry Support
Ripple CEO Brad Garlinghouse kind of framed the CLARITY Act as a kind of safeguard that everyday investors really need. He said that millions of Americans already own digital assets, and they do deserve protections that look a bit like what you find in more traditional markets. In other words, it’s about making sure the little guys aren’t left holding the bag, while everything moves so fast.
Garlinghouse also defended the bill against the criticism coming from certain parts of the crypto community. Some industry voices say that the legislation doesn’t go far enough. Charles Hoskinson criticized Ripple’s support of the proposal, too, and he argued that the overall framework is still pretty weak across a few key areas.
Garlinghouse took a more practical position. He said waiting for a perfect bill could delay regulation for years. According to him, the industry needs workable rules now so innovation can continue to grow in the United States.
CLARITY Act Sparks Debate Across Crypto Industry
The committee vote revealed both support and division. All 13 Republicans on the committee backed the measure. Democratic Senators Ruben Gallego and Angela Alsobrooks crossed party lines to support the bill, while nine Democrats voted against it.
Among the critics was Elizabeth Warren, who has repeatedly raised concerns about crypto regulation and investor risk. The final version of the bill included compromises aimed at winning bipartisan support. Those changes triggered criticism from decentralized finance advocates, who fear the legislation could weaken protections for DeFi innovation.
Even so, much of the broader crypto industry celebrated the vote. Brian Armstrong described the committee decision as a “historic day for crypto,” signaling growing momentum for federal digital asset regulation in the United States.
Also Read: XRP Price Prediction: Will XRP Hit $1.50 in May Amid CLARITY Act Buzz?
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