The Senate failed to invoke cloture on the CLARITY Act, and Ripple CEO Brad Garlinghouse blamed Democratic senators for the outcome. He promised a detailed post-mortem in the days ahead and pointed to continued SEC and CFTC rulemaking as reason for optimism on crypto regulation.
Ripple CEO Brad Garlinghouse reacted to Monday's failed cloture vote on the CLARITY Act by blaming Democratic senators for the bill's collapse. He said a post-mortem on the defeat is coming, and argued the setback does not change Ripple's momentum.
Senate rejects cloture on CLARITY Act
The Senate voted 50 to 49 against the motion to proceed to debating the CLARITY Act, a defeat for the crypto industry's push for market-structure legislation. All Democratic senators voted against the motion. They argued the bill's ethics provisions were insufficient and did not do enough to address concerns tied to President Trump's crypto dealings.
Garlinghouse blames Democrats, promises post-mortem
In an X post, Garlinghouse said the politics of the Democrats, whom he called the anti-crypto army, were placed above good policy in the vote's outcome. According to CoinGape, "A post mortem needs to be done on why this failed" in the days ahead, he added.
Garlinghouse called the defeat a loss for the industry as a whole, not just Ripple, saying the bill was a chance to cement the United States' position as the crypto capital of the world. His tone marked a reversal from before the vote, when he had urged senators to back the bill as a deal worth standing behind.
Ripple stays confident despite setback
Despite the loss, Garlinghouse pointed to the SEC under Chair Paul Atkins and the CFTC under Chair Mike Selig, saying both will keep working to fill the legislative gap through rulemaking. He added that Ripple's business has never been stronger, with real demand across both traditional finance and the crypto ecosystem, and that a missed vote does not change the company's momentum, global footprint, or customers.
Ripple's chief legal officer, Stuart Alderoty, echoed that outlook, noting that XRP's legal standing remains intact regardless of the vote. He pointed to the 2023 federal court ruling that XRP is not a security, along with a March joint SEC-CFTC interpretation classifying XRP as a digital commodity.
Sources: CoinGape, Coinpedia Fintech News
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