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Law enforcement, banks press Senate on CLARITY Act as White House pushes vote

Law enforcement, banks press Senate on CLARITY Act as White House pushes vote

Ripple executives are now publicly urging Senate passage as lawmakers weigh ethics language, banking objections and a shrinking timeline before the Aug. 7 recess.

XRP

Fact Check
The primary FLEOA press release directly confirms the endorsement of H.R. 3633 (CLARITY Act) with recommendations to tighten DeFi accountability, prevent artificial decentralization, and reaffirm federal investigative authorities. Independent reporting confirms NOBLE endorsed first (July 1, 2026) and FLEOA second (July 10, 2026), and that the Senate recess begins August 8, 2026. All components of the claim—FLEOA as second endorser, requested DeFi liability/accountability changes, preservation of investigative powers, and the pre-recess timing—are corroborated.
Summary

The Senate remains under pressure to advance the CLARITY Act before the Aug. 7 recess, with the White House pressing for action, law-enforcement and banking groups lobbying over specific provisions, and Ripple executives adding a new public push centered on consumer protection. Ripple’s global co-head of public policy and government, Lauren Belive, said on July 15 that opposing the bill would preserve regulatory uncertainty that leaves crypto holders exposed to bad actors, arguing that the same gaps seen in the FTX collapse remain unresolved. Ripple Chief Legal Officer Stuart Alderoty echoed that warning, saying a vote against the measure would leave unregulated conditions in place to be exploited. The bill would create a federal framework for digital asset trading and issuance, divide oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission, and require regulatory oversight before tokens reach the market. Its path is still complicated by unresolved conflict-of-interest language tied to senior officials’ crypto interests, Senate vote math, disputes over stablecoin provisions and other drafting issues, even as supporters try to move it toward a floor vote during the current work period.

Terms & Concepts
  • CLARITY Act: Proposed U.S. legislation that would create a federal crypto market-structure framework and split oversight between the SEC and CFTC.
  • market structure: The regulatory framework that determines how trading, issuance and oversight of financial assets are organized.
  • stablecoin: A digital token designed to maintain a stable value, often by being pegged to a currency such as the U.S. dollar.