Clarity Act: Ripple's chief legal officer urges Senate to listen to cryptocurrency holders

Ripple's chief legal officer calls on senators to listen to crypto holders

Ripple's chief legal officer Stuart Alderoty urged senators who have not yet decided their positions or have objections to listen to the opinions of the estimated 67 million U.S. cryptocurrency holders before the CLARITY Act faces a procedural test that requires 60 votes to pass on September 15.

Aldotti contacted the Senate office to ask lawmakers to speak directly with crypto holders.

Aldotti said he had contacted the offices of senators who opposed the CLARITY Act or had not yet decided on a voting method. As the procedural vote date approaches, he calls on those lawmakers to meet with "ordinary people with digital assets" and hear about the impact federal encryption regulations may have on them. He believes senators should listen to the voices of individual holders, rather than just the views of lobbying groups, industry executives and trade groups.

The Ripple executive made this claim based on research from the National Cryptocurrency Association. The association estimates that approximately 67 million people in the United States own cryptocurrencies. According to the association's 2026 survey, approximately one-quarter of American adults hold some form of digital asset.

Aldotti pointed out that the large holder base gives individuals a direct interest in legislation that could change the way tokens, trading platforms and other crypto services operate in the United States. His request also adds an argument focused on retail users to a lobbying campaign dominated by companies, banks and Washington policy groups.

Reuters reported on September 9 that "Stand With Crypto" supporters made phone calls or sent nearly 50,000 emails to members of Congress in August alone. The advocacy group also scheduled meetings and published opinion pieces in local newspapers, while senators returned to work in their states during recess.

The banking industry has also launched its own lobbying campaign. Reuters reported that the Independent Community Bankers of America has asked local bankers to contact senators to oppose provisions they believe could cause digital tokens to compete with bank deposits and reduce loanable funds.

The CLARITY Act requires 60 votes to open debate

The Senate's September 15 action was not to determine whether the CLARITY Act would become law. Senators are expected to vote on a "cloture for the motion to proceed" at around 2:15 p.m. EDT, a step that would allow the House to begin formal debate on the legislation.

Termination of debate requires the support of 60 senators. Republicans hold 53 seats, which means that even if all Republicans support advancing the bill, at least seven Democrats or independents will still need to vote in favor.

However, full Republican support cannot be guaranteed. As previously reported, some Republican members have expressed concerns about the president's ethics provisions, stablecoin rewards and the treatment of decentralized finance. Republican defections will increase the number of opposition votes needed to cross the threshold.

Senate Majority Leader John Thune filed a motion to close debate before the August recess. The document would schedule a vote the day after senators return to Washington, leaving very limited time for negotiations.

If adjournment is successful, senators debate the bill, propose amendments, and then vote separately for passage. If 60 votes are not obtained, the House will not be able to consider the measure in accordance with the scheduled procedure.

The bill aims to establish a federal market structure for digital assets and divide oversight responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Its rules will also help determine when digital assets are governed by securities laws and when they should be considered commodities.

The bill passed the House of Representatives in July 2025 by a vote of 294 to 134 and was advanced in the Senate Banking Committee in May 2026 by a 15 - 9 vote. Only two Democrats reportedly voted in favor during the committee stage, leaving the Senate leadership facing more complex calculations in the lower house vote.

Ethics controversy threatens bipartisan support base

The presidential ethics clause remains a major obstacle in Senate negotiations. Democrats seek to tighten restrictions on digital asset activities involving the president, senior government officials and their families.

Their concerns include crypto businesses linked to President Donald Trump and his relatives, including World Liberty Financial and the official Trump memecoin. Democratic senators believe the pending language does not provide sufficient protection against conflicts of interest, illegal financial activity and possible impact on federal policy.

Republican lawmakers have different views on whether enough compromise has been reached. One of the bill's main supporters, Sen. Cynthia Lummis accused the Democratic request of putting legislation at risk, while saying remaining differences could still be resolved.

Senator Mike Rounds gave a more cautious assessment, saying the bill's prospects "do not look optimistic at the moment." Senator Thom Tillis also warned that the measure will fail if lawmakers and the White House lack interest in narrowing differences over ethics provisions.

stablecoin rewards sparked another dispute. Community banks believe that rewards provided by stablecoin balances could attract deposits away from insured banks, while crypto companies oppose restrictions that prevent third parties from making such payments.

Lawmakers are also discussing legal protection for decentralized financial software developers. Some senators want stronger safeguards for developers who do not control customer assets, while others seek rules designed to combat money laundering and other illegal financial activities.

U.S. holders will face rules shaped by the SEC and the CFTC

For U.S. token holders, the bill's division of powers between the SEC and the CFTC could affect how trading platforms list assets and which federal rules apply to their transactions. The bill will also set requirements for digital asset market intermediaries operating in the United States.

say a statutory framework will replace some of the uncertainty created when institutions apply existing securities and commodity laws to crypto products. Critics, including several Senate Democrats, argue that any framework must include stronger consumer, financial crime and moral protections.

Ripple executives have been supporting congressional action on the structure of the crypto market. Earlier this year, CEO Brad Garlinghouse called on lawmakers to complete the country's regulatory framework and said making the United States a global crypto center remained "within reach."

Even if the Senate approves the motion and ultimately passes the bill, the legislative process will not end. Any Senate text that differs from the version approved by the House must be reconciled by both chambers before being submitted to the president.

The House plans to enter its next recess with only four legislative working days left after September 15, leaving little time for lawmakers to review and approve any changes passed by the Senate.