Ripple urges Senate to support CLARITY Act, says opposing the bill will preserve FTX-style risks
2026-07-16 00:33
Odaily Planet Daily News: Lauren Belive, Ripple's Global Head of Public Policy and Government Affairs, stated that opposing the CLARITY Act is not opposing the crypto industry, but rather opposing consumers, and will continue to expose crypto holders to bad actors exploiting regulatory arbitrage.
Belive stated that the U.S. digital asset market already exists, but federal rules to protect consumers have not kept up. She pointed out that the regulatory gaps that led to the collapse of FTX and the loss of customer funds still exist today.
Belive stated that the CLARITY Act would grant the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) clear joint jurisdiction over the digital asset market and require tokens to undergo regulatory oversight before entering the market.
Stuart Alderoty, Chief Legal Officer of Ripple and Chairman of the National Cryptocurrency Association, stated that opposing the CLARITY Act will allow the current unregulated state to continue and be exploited by bad actors.
Belive stated that the U.S. digital asset market already exists, but federal rules to protect consumers have not kept up. She pointed out that the regulatory gaps that led to the collapse of FTX and the loss of customer funds still exist today.
Belive stated that the CLARITY Act would grant the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) clear joint jurisdiction over the digital asset market and require tokens to undergo regulatory oversight before entering the market.
Stuart Alderoty, Chief Legal Officer of Ripple and Chairman of the National Cryptocurrency Association, stated that opposing the CLARITY Act will allow the current unregulated state to continue and be exploited by bad actors.
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