Why is Ripple CEO Brad Garlinghouse criticising JPMorgan over the CLARITY Act?

Brad Garlinghouse argues that JPMorgan CEO Jamie Dimon has misrepresented the CLARITY Act by suggesting it weakens compliance standards. Garlinghouse says the bill is designed to clarify regulatory oversight, not reduce investor protections or make illicit activity easier.

What is the CLARITY Act?

The CLARITY Act is a proposed US crypto market structure bill that would establish rules for how digital assets are regulated. It aims to define which regulators oversee different types of crypto assets and provide greater legal certainty for the industry.

Why does the CLARITY Act matter to the crypto industry?

Supporters believe the legislation could reduce regulatory uncertainty that has discouraged institutional investment and pushed crypto businesses offshore. Clearer rules could make it easier for companies, investors and financial institutions to participate in the US digital asset market.

What did Brad Garlinghouse say about Jamie Dimon’s criticism?

Garlinghouse said Dimon’s comments were either an intentional or negligent misrepresentation of the legislation. He argued that claims the bill weakens compliance standards do not accurately reflect how the proposal divides regulatory responsibilities.

Why is JPMorgan sceptical of the CLARITY Act?

Jamie Dimon has argued that the legislation could create compliance gaps or increase financial risks. JPMorgan has generally maintained a cautious public stance toward cryptocurrencies, even while developing selected blockchain-based initiatives internally.

How could the CLARITY Act affect Ripple?

A clearer regulatory framework could reduce legal uncertainty for Ripple’s payment products, stablecoin initiatives and blockchain services. It may also make it easier for banks and corporate clients to adopt blockchain-based financial infrastructure.

Image for illustrative purposes only. Not a real photo.

Ripple attacks JPMorgan over CLARITY Act

Written by Brie CarterPublished Jun 15, 2026, 12:41 AM

Ripple CEO Brad Garlinghouse has criticised JPMorgan CEO Jamie Dimon, accusing the banking executive of mischaracterising the proposed CLARITY Act as debate intensifies over the future of US crypto regulation.

The CLARITY Act seeks to establish a regulatory framework for digital assets by clarifying oversight responsibilities among financial regulators while aiming to promote innovation, investor protection and legal certainty.

“It’s either intentional misrepresentation or even negligent to try to make support for the CLARITY Act go away,”

Garlinghouse said during a Fox Business interview, rejecting claims that the legislation would weaken compliance standards.

Supporters of the bill argue that clearer rules could encourage institutional participation in digital assets and help prevent companies, investment capital and trading activity from moving outside the United States.

Garlinghouse said regulatory uncertainty has already contributed to a significant share of digital asset trading migrating offshore, increasing competitive pressure on US markets and financial infrastructure.

The disagreement also reflects broader tensions between Ripple and JPMorgan, with Garlinghouse suggesting the bank has incentives to protect its highly profitable payments business from emerging blockchain-based alternatives.

“We will fight the CLARITY Act. If we lose, we lose, and we’ll live. But it will be fought,”

Dimon said, maintaining his longstanding scepticism toward parts of the crypto industry despite JPMorgan’s continued exploration of selected blockchain applications.

With Congress facing a limited legislative window before the August recess, the fate of the CLARITY Act could play a significant role in determining how digital assets, stablecoins and blockchain-based financial services develop within the US financial system.