Ripple CEO says crypto growth won’t hinge on CLARITY

Ripple CEO Brad Garlinghouse has said cryptocurrency’s long-term development will not depend on passage of the CLARITY Act, even as he continues to support a federal market-structure law for digital assets. Summary Garlinghouse said superior crypto technology can endure CLARITY setback despite his support for federal legislation. Senate rejected cloture 49-50 on September 15, leaving H.R. 3633 short of required sixty votes. Ripple says XRP’s legal status remains unchanged after the failed Senate vote on CLARITY legislation. SEC and CFTC guidance currently identifies XRP as a digital commodity under their joint interpretation. Reuters reported Bitcoin fell more than 5% while Coinbase and Circle shares dropped sharply Tuesday. Nate Geraci reported from a Kansas City digital-asset event on Sept. 15 that Garlinghouse argued technological performance could keep crypto moving even if Congress failed to advance the bill. “When you have a technology that’s better, faster, stronger… that usually wins,” Garlinghouse said, according to Geraci’s account of the remarks. An official Sept. 15 listing from the Economic Club of Kansas City showed Garlinghouse scheduled for a discussion titled “Disr...