Crypto Regulation at Turning Point as CLARITY Act Advances: Ripple CEO

Ripple CEO About Crypto Regulation | Source: X

On the other hand, it is worth noting that Garlinghouse mentioned that recent signals from US regulators may help mitigate risk in the sector. At the same time, it should be noted that success depends heavily on implementation.

This development comes amid the CLARITY Acts 14-day window. The Senate Banking Committee is set to discuss the crypto bill possibly within the next two weeks. Bill Hagerty has indicated that the bill could be reviewed this week. However, failure to advance it in time may prevent it from reaching a full Senate vote.

Joint SEC-CFTC Move Signals End of Regulatory Uncertainty？

Further, Brad Garlinghouse stated that the recent joint statement by the US SEC and CFTC was a major moment for the crypto industry. According to him, this kind of coordination between the two regulators is rare.

It signals a shift away from the past approach, where the industry often faced legal pressure and uncertainty. He believes this could mark the end of a long period in which crypto companies faced unclear and often conflicting enforcement actions.

However, he also warned that this progress may not last without proper laws in place. Garlinghouse pointed out that, unless there is a permanent legal framework such as the CLARITY Act, the industry could face similar challenges again in the future.

He specifically noted that a change in leadership at the SEC could bring back stricter policies, creating fresh uncertainty.

Despite these concerns, Brad Garlinghouse said he still sees value in the CLARITY Act and remains hopeful about its impact. That said, he admitted he is not as optimistic as before, as the path to achieving lasting regulatory clarity still depends on how quickly and effectively lawmakers act.