Senate advances CLARITY Act for digital asset regulation

As the U.S. Senate moves toward a critical vote on landmark digital asset legislation, major industry players are urging passage of a bill they argue is essential for consumer protection and regulatory clarity. The Digital Asset Market Clarity Act, known as the CLARITY Act, is advancing toward a full Senate floor vote amid intense negotiations and high-level political engagement, including a meeting scheduled for July 16 between President Donald Trump and Republican senators.

Ripple’s leadership has been vocal in framing the upcoming vote as a direct test of congressional commitment to safeguarding consumers. Stuart Alderoty, Ripple’s chief legal officer, warned that rejecting the legislation would preserve a regulatory vacuum that bad actors can exploit, referencing past market failures like the collapse of FTX. He argued that with an estimated 67 million digital asset holders in the U.S., maintaining the status quo leaves consumers exposed to unnecessary risk.

Lauren Belive, Ripple’s global co-head of public policy and government, echoed this sentiment, stating that a vote against the bipartisan bill is effectively "anti-consumer." She emphasized that the legislation is...