Ripple CEO Brad Garlinghouse recently publicly supported the U.S. CLARITY Act and called on Congress to expedite related legislation following the Trump White House Innovation Summit. He stated that there is still room for the U.S. to become the "global crypto capital," provided the remaining work is completed.
The bill will redefine regulatory responsibilities.
The core of the CLARITY Act is to expand the U.S. Commodity Futures Trading Commission's (CFTC) regulatory authority over crypto trading while reducing the U.S. Securities and Exchange Commission's (SEC) role in the secondary crypto market. For Ripple, this issue is particularly sensitive, as the company has been long embroiled in litigation with the SEC over XRP.
Senate vote on September 15
The bill will be voted on by the Senate on September 15, and lawmakers will first decide whether to proceed with H.R. 3633. If it receives 60 votes in favor, the Senate may move forward to debate, amend, and conduct subsequent votes.
House time window tightens
The timeline is also tightening. House Republicans have canceled voting schedules for the two weeks containing September 21 and September 28, effectively removing eight working days from the legislative calendar. Lawmakers are expected to leave Washington around September 17, leaving even less time for the House to act if the bill is amended in the Senate.
Law enforcement groups have become neutral.
The National Sheriffs' Association has also changed its position on the bill to neutral. In a letter to Senate leaders, the organization stated that the bill's provisions are complex and certain details remain unresolved. Previously, the Major County Sheriffs of America had also shifted to a neutral stance in July.