Ripple backs CLARITY Act as vote nears

• Ripple executives urged US lawmakers to pass the CLARITY Act.
• Chief Executive Brad Garlinghouse said the legislation would provide clearer crypto rules.
• The bill is viewed as a key step towards expanding the US digital asset industry.

Ripple executives have called on US lawmakers to approve the CLARITY Act, saying the proposed legislation would create clearer rules for the cryptocurrency industry.

The company said regulatory certainty would encourage innovation and investment while helping the United States remain competitive in digital assets.

“Let's get this done,” said Ripple Chief Executive Officer Brad Garlinghouse, urging lawmakers to pass the CLARITY Act.

Ripple said the legislation would clarify which digital assets fall under the jurisdiction of the Securities and Exchange Commission and the Commodity Futures Trading Commission.

The company believes the bill would provide businesses with clearer compliance standards and reduce legal uncertainty for cryptocurrency firms operating in the United States.

Following the announcement, XRP (CRYPTO:XRP) showed no immediate reaction linked directly to Ripple's comments, although investors continue to monitor the progress of US crypto legislation.

The CLARITY Act is one of several proposed cryptocurrency bills being considered in Washington as lawmakers debate a long-term regulatory framework for digital assets.

At the time of reporting, XRP price was $1.11.