Ripple CEO Brad Garlinghouse renewed his support for US crypto leadership after attending a White House meeting on August 19 with federal regulators and executives from crypto and financial companies. In a statement on September 3, Garlinghouse said: "Making America the crypto capital of the world is within reach – let's finish the job."
The meeting included Commodity Futures Trading Commission (CFTC) Chairman Michael S. Selig, Securities and Exchange Commission (SEC) Chairman Paul Atkins, and leaders from Ripple, Coinbase, Kraken, Robinhood, Nasdaq, and Intercontinental Exchange. CFTC Chairman Selig stated that under the current administration's leadership, "we're ensuring that the new frontier of finance is built on American soil."
During the White House gathering, discussions focused on digital asset legislation, capital formation, tokenization, and US technological competitiveness. Industry executives urged senators to advance legislation establishing federal rules for digital asset markets.
CLARITY Act Advances to Senate Vote
The Digital Asset Market Clarity Act of 2025 (H.R. 3633) would establish a federal market structure for digital assets by giving the CFTC authority over spot markets for qualifying digital commodities while preserving SEC oversight of securities. The House passed the bill in July 2025, and it subsequently moved to the Senate.
Senate Majority Leader John Thune (R-SD) filed a cloture motion on August 8 to advance the bill. Under the Senate's floor schedule, a procedural vote on the motion is set for September 15 at 2:15 p.m. EDT. This vote would determine whether the Senate moves forward to formal consideration of the legislation.
The regulatory outcome could affect cryptocurrency services and digital assets operating across blockchain networks, tokens, wallets, exchanges, and decentralized applications. The proposed legislation would determine which activities fall under commodities or securities oversight and how trading platforms can operate under federal rules.
