Ripple backs the Clarity Act as industry pushes for crypto regulatory clarity
- Ripple joined Coinbase, Circle, Kraken and dozens of other crypto firms in a public push for the Senate to advance the CLARITY Act, a bill meant to define federal rules for digital assets. - Brad Garlinghouse has publicly backed passing the bill even if it is imperfect, while Coinbase’s CFTC-regulated XRP futures market is already live and the exchange just moved to raise XRP position limits. - The fight has shifted from SEC courtroom battles toward Congress and market-structure rules after the SEC settled with Ripple in 2025 and XRP products were framed in commodity-style filings. (sec.gov)
Ripple has joined a fresh industry push to get the Senate moving on the CLARITY Act, the crypto market-structure bill that would sort out which federal regulator oversees which tokens. (msn.com) The new letter’s backers include Ripple, Coinbase, Circle and Kraken, according to the report, which said more than 100 crypto firms signed on. (msn.com) Brad Garlinghouse has spent the past two months arguing that Congress should pass the bill even if it is not perfect, after earlier saying he saw an 80% to 90% chance of passage by April 2026. (thecryptobasic.com) (ethnews.com)) The bill matters because it is designed to draw a line between Securities and Exchange Commission oversight and Commodity Futures Trading Commission oversight, while also setting rules for exchanges, brokers and token issuers. (coinbax.com) That is a different fight from the one Ripple spent years in with the Securities and Exchange Commission. In May 2025, the SEC announced a settlement framework to resolve its civil case against Ripple and its executives. (sec.gov) The XRP market has also been moving deeper into regulated derivatives. Coinbase Derivatives self-certified XRP futures with the Commodity Futures Trading Commission for trading on or after April 21, 2025, and Coinbase now lists May 2026 XRP futures contracts on its platform. (cftc.gov) (coinbase.com) This week, Coinbase Derivatives filed to raise position limits for its XRP contracts from 4,000 to 20,000 aggregate contracts, another sign that the exchange expects broader use of the product. (cftc.gov) The Securities and Exchange Commission has also handled XRP exchange-traded product filings under its commodity-based trust framework. In February 2025, it published a notice for the 21Shares Core XRP Trust under the category for Commodity-Based Trust Shares. (sec.gov) Fund-flow data has turned more supportive too. CoinShares said XRP led digital-asset investment-product inflows in its April 7 weekly report, and market trackers showed XRP spot ETF inflows topping $71 million this month through April 23. (coinshares.com) (coinglass.com) Ripple’s bet is that the next phase of the XRP story will be written less by judges and more by Congress, the CFTC and regulated trading venues. (msn.com) (sec.gov)
