Ripple CEO Brad Garlinghouse called on U.S. lawmakers to pass the Digital Asset Market Clarity Act, arguing that the cryptocurrency industry cannot afford to hold out for a flawless version of the legislation. In a statement released Tuesday, Garlinghouse said the sector needs clear rules now, even if the bill isn't perfect.
Why the urgency
Garlinghouse warned that delays in establishing a regulatory framework could stifle innovation and drive crypto businesses overseas. He stressed that waiting for a perfect law would leave the industry in legal limbo, hurting companies and consumers alike. The CEO's comments come as Congress continues to debate how to regulate digital assets.
What the act would do
The Digital Asset Market Clarity Act is designed to provide a clear set of rules for digital asset markets. Garlinghouse argued that such clarity is essential for the industry to grow responsibly. He did not specify which provisions of the bill he considers imperfect, but he made clear that moving forward is more important than getting every detail right.
Industry's long wait for rules
For years, crypto firms have operated in a regulatory gray area, with different agencies offering conflicting guidance. Garlinghouse's push for the act reflects a broader frustration among industry leaders who say the lack of clear federal rules has created uncertainty. The Ripple CEO's call is one of the most direct appeals yet for lawmakers to act quickly.
The legislation's fate remains uncertain. Garlinghouse's message to Congress: pass something now, and fix it later.
