Ripple CEO Brad Garlinghouse says the United States still has an opportunity to become the world’s leading cryptocurrency hub, but believes policymakers must turn political support for the industry into a clearer regulatory framework.
Garlinghouse made the remarks on Sept. 3 following renewed attention on an August White House meeting that brought together senior government officials and executives from the cryptocurrency, financial and technology sectors.
- Brad Garlinghouse says US leadership in crypto remains achievable.
- The White House has been engaging directly with major crypto and financial executives.
- The CLARITY Act remains a key test of Washington’s crypto policy.
- A Sept. 15 Senate cloture vote could determine whether the legislation advances.
- A tight congressional calendar could complicate efforts to complete the bill afterward.
White House Crypto Engagement Raises Expectations
Garlinghouse said the United States could still establish itself as the global center for cryptocurrency, adding that policymakers should complete the work required to make that goal achievable.
His comments followed an Aug. 19 White House meeting attended by executives from major cryptocurrency and financial companies alongside senior administration and regulatory officials.
Participants included Garlinghouse, Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev and Kraken co-CEO Arjun Sethi. Nasdaq CEO Adena Friedman, Intercontinental Exchange CEO Jeffrey Sprecher, Gemini co-founders Cameron and Tyler Winklevoss and Chainlink co-founder Sergey Nazarov were also among those present.
SEC Chair Paul Atkins and CFTC Chair Michael Selig represented the country’s principal financial market regulators.
Selig later said the administration wanted the next generation of financial technology to be developed in the United States. While the comments demonstrate strong political interest in the sector, they do not themselves establish new laws or regulatory requirements.
Garlinghouse subsequently participated in the first meeting of the CFTC’s Innovation Advisory Committee, bringing additional industry representation into discussions over the future of US financial markets.
CLARITY Act Becomes the Key Legislative Test
The Digital Asset Market Clarity Act, commonly known as the CLARITY Act, remains one of the most important pieces of legislation in the US crypto policy debate.
The bill seeks to establish clearer boundaries between federal regulators and define how different categories of digital assets and market participants would be regulated.
The House has already passed its version of the legislation, while the Senate has been working on an amended version. The Senate is expected to hold a cloture vote on Sept. 15, with at least 60 senators required to support advancing the measure.
Several issues remain under negotiation, including rules affecting decentralized finance, consumer safeguards, ethics requirements and the treatment of rewards associated with stablecoins.
Some Democratic senators have previously pushed for additional protections and enforcement provisions, creating another obstacle for bipartisan agreement.
Garlinghouse has repeatedly encouraged lawmakers to move forward with legislation despite the remaining disagreements, arguing that regulatory certainty is important for the United States to remain competitive in digital assets.
Congressional Calendar Could Become Another Obstacle
Even if the Senate clears the procedural hurdle, the CLARITY Act would not immediately become law.
If the Senate version contains provisions that differ from legislation previously approved by the House, lawmakers would need to reconcile the two versions before sending a final bill to the president.
The congressional schedule leaves lawmakers with a relatively narrow window to complete that process. The House has only a handful of legislative days scheduled after the expected Sept. 15 Senate vote before another recess.
That compressed timetable could make negotiations more difficult, particularly if substantial amendments emerge from the Senate.
Failure to complete the legislation before the congressional calendar shifts toward the midterm elections could push negotiations into a post-election lame-duck session. While legislation can still advance during such periods, the outcome would depend heavily on congressional leadership and election results.
Regulatory Agencies Can Only Go So Far
The Securities and Exchange Commission and CFTC have taken several steps toward providing greater clarity around digital assets through regulatory guidance and policy changes.
However, agency action cannot completely substitute for legislation. Regulatory guidance can change with new administrations and may also face legal challenges, whereas congressional legislation can establish a more durable statutory framework.
For the crypto industry, the Sept. 15 Senate vote therefore represents an important milestone.
If the measure advances, lawmakers would still need to resolve differences between the House and Senate versions and secure final approval within a constrained legislative schedule.
Garlinghouse’s argument that US crypto leadership remains within reach ultimately depends on whether Washington can convert the current political momentum and industry engagement into lasting legislation.
The White House meetings indicate growing government-industry engagement, but the upcoming Senate vote will provide a clearer indication of whether that support can translate into a comprehensive federal crypto framework.
