CLARITY Act vote Sept. 15 could unlock US jobs, Ripple says

Ripple's chief legal officer says the CLARITY Act, heading for a Senate procedural vote Sept. 15, could create US jobs and broaden economic growth.

Ripple's chief legal officer linked passage of the CLARITY Act to US job creation and broader economic growth, as the digital-asset bill heads for a Senate procedural vote Sept. 15.

Stuart Alderoty, chief legal officer at Ripple, said the legislation would establish clearer rules for crypto, stablecoins and blockchain, according to a statement. The bill would set out which federal agency regulates digital assets, what consumer protections apply and how law enforcement handles bad actors.

The CLARITY Act would replace a patchwork of state and federal approaches that has left exchanges, issuers and investors navigating conflicting rules. JPMorgan Chase chief executive Jamie Dimon has warned the bill could "blow up the financial system," while President Donald Trump has said he wants the US to lead in digital finance.

Passage would mark the first comprehensive US federal framework for digital assets, a milestone that could draw institutional capital and set a template for other jurisdictions. A vote is scheduled for Sept. 15, with the outcome likely to shape how the sector is regulated for years.

The bill has drawn sharp opposition from parts of the traditional banking sector. Dimon's warning echoes concerns that stablecoins and other digital assets could destabilize existing payment infrastructure, even as he has publicly acknowledged that stablecoins have useful applications. Trump's push for US leadership in digital finance aligns with the bill's supporters, who argue that clear federal rules would let American firms compete with jurisdictions such as the European Union, which adopted its Markets in Crypto-Assets regulation, and Singapore, which has built a licensing regime for digital-asset firms.

Alderoty's comments come as Ripple, which issues the XRP token and operates a cross-border payments network, has positioned itself as a leading voice in US crypto policy. The company has argued that a federal framework would reduce legal uncertainty that has pushed some digital-asset firms to operate overseas.

The CLARITY Act would also affect community banks, which have warned that heavy compliance burdens could fall on smaller institutions. Big banks can hire armies of lawyers and compliance experts, while smaller lenders must climb the same regulatory mountain without the same resources, according to industry observers. The same technology threatening a large bank's turf could help a hometown bank move money faster and cheaper, they argue.

A stablecoin is a digital token designed to track the value of a dollar, while blockchain is the electronic record book that tracks who sent what to whom. The bill would establish rules for both, along with broader crypto and digital-asset markets, and would aim to prevent a patchwork of regulators, lawsuits and state attorneys general from setting conflicting standards.

The Senate procedural vote on Sept. 15 will test whether the bill has enough support to advance. If it clears that hurdle, a full floor vote and House consideration would follow, with the outcome likely to shape how the sector is regulated for years.

This article is for informational purposes only and does not constitute investment advice.