Chris Larsen meets Mayor of London Sadiq Khan to discuss moving investments away from the Bay area and over to London. London is Ready! #Ripple#XRP#XRPCommunity#XRPArmy
Grayscale Investments, the world’s largest digital asset-focused investment platform¹, just sent a letter to the Senate requesting a floor vote on the CLARITY Act before the August recess.
"Senators and staff across the aisle have spent months addressing hard questions about jurisdiction, investor protections, and developer safeguards. The framework that emerged protects investors, shields legitimate developers from overreach, and provides the certainty Americans deserve."
After months of bipartisan work, the industry is ready for CLARITY.
JP Morgan, once the biggest anti-crypto bank influencing Senators like Warren, have flipped and want the Clarity Act to pass.
The Dem's have no corner left to hide in. 🇺🇸
More than a year ago, the House passed the Clarity Act.
There’s been progress since — thousands of hours of bipartisan negotiations took place at the staff and Member levels. The Senate Committees on Banking and Agriculture advanced their respective titles. And Senate Republicans produced a floor-ready product that, as I type this, is waiting for a vote.
It’s disappointing — but not surprising — that Senate Democrats are choosing politics on the cusp of a major victory for American leadership. Find another instance in history where Congress, when given the choice, opted to push an industry out of the United States rather than smartly regulate it. American Exceptionalism was once a bipartisan goal; if Clarity fails, I have serious doubts.
These same Democrats — many of whom have taken millions of dollars from the crypto industry — proclaim that Clarity lacks safeguards for consumers and falls short in countering illicit finance. Nothing could be further from the truth. Titles II and III materially uplift regulatory and compliance obligations for digital asset intermediaries, placing them on similar footing with traditional financial institutions. The Blockchain Regulatory Certainty Act — which Washington lobbyists have spun up as a boogeyman for certain groups of prosecutors and law enforcement — does nothing other than codify longstanding Treasury Department policy that’s remained consistent across Administrations: non-custodial builders and developers are not, and have never been, subject to registration obligations under the Bank Secrecy Act. And at this point, major law enforcement trades that once opposed the bill, including the Fraternal Order of Police, have now endorsed it.
The Senate needs to vote NOW on this landmark legislation. The truth is that Senate Democrats are afraid to advance the Clarity Act as they fear Senator Warren and the “Anti-Crypto Army” she once promised to build. In the days ahead, Leader Thune will put this theory to the test. Will Senate Democrats be on the side of American Exceptionalism, or will they opt to cede American leadership of a global industry for fear of the bespectacled squirrel’s Left flank?
America will lead or America won’t. It’s not more complicated than that. I believe Satoshi once said it best:
“If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”
UPDATE: A new CLARITY Act draft has been released, merging the Senate Banking and Agriculture Committee versions and adding an ethics provision for the first time.
A motion to proceed is expected Monday or Tuesday, with a possible floor vote the week of August 3.
In 2013, @Ripple was just a payments company. Today it spans custody, payments, native stablecoins, treasury management, and prime brokerage, all under one roof.
@_JackMcDonald_, SVP at Ripple, joins Grayscale to discuss how the company is building full-stack financial infrastructure.
These are the Senators who aren’t interested in being reelected @Sen_Alsobrooks@CoryBooker@SenCortezMasto@RubenGallego@Hickenlooper@MarkWarner@ReverendWarnock we welcome you all back into the private sector if you don’t pass the Clarity Act. Welcome to the real world. It’s a jungle out here. I can assure you it’s not worth it. We actually have to work. Pass it and continue to enjoy the government dole.
The Clarity Act is a consumer protection bill: strong AML/KYC, real tools for law enforcement and state AGs. Leave it on the table and consumers are left twisting in the wind with the status quo with no clear standards for bad actors to exploit (again).
Perfect can't be the enemy of good. Let's get this done.
Hey @Sen_Alsobrooks - along with every Democrat who argues they can’t vote for the Clarity Act unless state Attorneys General are in charge of the ethics enforcement: You’re suggesting is what’s unserious.
I’ve never been shy about criticizing this President when I think he’s gotten it wrong, including on crypto policy, where I’ve pushed back on positions I believed were bad for retail investors and market integrity. But on this specific question, the Democrats’ insistence on state Attorneys General enforcement doesn’t hold up.
The CLARITY Act is federal legislation establishing a federal regulatory framework for digital assets. The Department of Justice - not fifty different state AGs with fifty different political incentives and fifty different interpretations - is the appropriate body to enforce federal law.
Handing enforcement to state AGs invites exactly the kind of inconsistent, patchwork application that makes it harder for legitimate market participants to know what the rules actually are, while opening the door to the kind of politicized targeting we’ve already seen state AGs use against industries and individuals they simply disagree with.
If Democrats are serious about consumer protection in crypto markets, they should want uniform, predictable federal enforcement - not a system where enforcement varies depending on which state you’re in and which party controls that AG’s office.
Currently, there are no restrictions on government officials issuing meme coins, NFTs, or other cryptocurrencies. FTX happened in part because of the lack of regulatory clarity in America and retail investors lost big time going offshore.
Make no mistake about it: voting no comes down to not wanting Trump to take a legislative victory lap shortly before the midterms. Period. And it’s disgusting, un-patriotic and hurts the people you’re claiming to want to protect.
🚨UPDATE: The Clarity vote is targeted for next week. Contact your Senator. Tell them to vote YES. We're in the homestretch. Don't stop now. 👇
Connect to Congress: https://t.co/GzHabguvh1
🚨NEW: Senate Republicans have just released an updated version of the Clarity Act following briefing calls with stakeholders this morning.
Here are some of the key provisions in the latest text, including ethics, the BRCA and other areas we’ve been following closely.
One major issue delaying the CLARITY Act was the ethics package.
Democratic senators raised concerns that President Trump and his family could personally benefit from the legislation due to their crypto business interests.
President Trump has now agreed to the ethics provisions, which include stronger conflict-of-interest rules, disclosures, and investor protections.
This resolves the main roadblock and clears the path for updated bill text.
Republicans are ready, many Democrats are supportive, and America is ready for regulatory clarity.
It’s time to pass the CLARITY Act.
For the past year, I have worked diligently to get the Clarity Act passed, fulfilling President Trump’s vision to make the U.S. the crypto capital of the world.
Last week, it was reported that I was set to leave for mandatory training as part of my service in the Georgia Army National Guard, right before Clarity hits the Senate floor.
While I remain committed to fulfilling my service obligation, I am grateful to report that my training has been deferred, and that I will be able to see this effort through to the end.
Thanks to @POTUS and @DavidSacks for the opportunity to continue this important work and to everyone who reached out last week. Let’s finish the job. 🇺🇸
Love crypto? Pass CLARITY to promote its growth.
Hate crypto? Pass CLARITY to prevent its abuses.
Don’t care or feel somewhere in the middle about crypto? Pass CLARITY to show Congress can still actually do something with the power granted by the American people.
It’s time.
@stephenchip@BankXRP Not every step of the way. Brian Armstrong delayed it by a couple of months. And then Trumps greed has really screwed us all over.