Brad Garlinghouse went public on July 22 urging Congress to move the Digital Asset Market Clarity Act forward, even as seven Senate Democrats blocked a clean path to a vote on the latest draft. His message was blunt: "Perfect can't be the enemy of good. Let's get this done!"
Garlinghouse was backing comments made by Ripple's Chief Legal Officer Stuart Alderoty, who argued that holding out for a flawless compromise would only bury the bill. Ripple has been one of the most vocal corporate supporters of federal crypto market structure rules throughout the current congressional cycle, and Garlinghouse has pushed lawmakers on this front repeatedly, saying as recently as earlier this year that he expected progress in 2026.
Where the resistance is coming from
The opposition is concrete and named. Senators Catherine Cortez Masto, Angela Alsobrooks, Cory Booker, Ruben Gallego, John Hickenlooper, Mark Warner, and Raphael Warnock put out a joint statement rejecting the current text. They said the bill still needs more work on ethics, consumer protection, illicit finance, conflicts of interest, and market integrity, though they left the door open for continued negotiations after a year of talks with Republican colleagues.
Senate Banking Committee Ranking Member Elizabeth Warren added her own criticism, arguing the ethics provisions fall short with President Donald Trump's crypto business interests, and that the bill lacks adequate investor and national security protections.
Coinbase CEO Brian Armstrong, for his part, said the bipartisan bill is ready for a Senate vote after lengthy negotiations. Alderoty framed the CLARITY Act as a consumer protection measure that would tighten anti-money laundering and know-your-customer requirements while giving law enforcement and state regulators clearer authority to act against misconduct.
The timing adds pressure. Congress is approaching its August recess, and the updated legislative text was released just as the deadline tightens. With seven Democratic senators publicly opposed, supporters face a difficult vote count, and the window for a clean passage before the recess is narrowing fast.
This article is for informational purposes only and does not constitute financial or investment advice.
