Ripple CEO Brad Garlinghouse urged Congress on July 22 to advance the Digital Asset Market CLARITY Act, calling it the final legislative hurdle to XRP achieving institutional scale. The bill, currently in active Senate negotiations, faces resistance from seven Senate Democrats seeking stronger consumer and enforcement safeguards. Ripple warns that rejecting the bill could leave digital asset users exposed to the same structural gaps that enabled the FTX collapse, while Senator Cynthia Lummis defends the framework as strengthening regulatory accountability. The coalition supporting the bill now includes Fidelity, Goldman Sachs, Stand With Crypto, over 200 organizations, and over 1,200 technology firms, creating significant political pressure on moderate senators.
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