Brad Garlinghouse, CEO of Ripple, stated at a digital asset event in Kansas City that cryptocurrency will ultimately prevail, whether or not the Clarity Act is passed. The bill, which aims to establish a regulatory framework for the crypto market, needs 60 votes in the Senate to advance, but Republicans, who hold 53 seats, have failed to convince enough Democrats despite 126 substantive changes to the text. Garlinghouse defended the need for a legislative compromise, arguing that superior technology usually wins and that the existing financial system has failed to keep pace with technological change. The Ripple CEO also questioned why the United States would risk surrendering its leadership position to overseas markets.
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