Ripple Boss Backs Treasury Chief’s Crypto Bill Push

Ripple CEO Brad Garlinghouse threw his weight behind Treasury Secretary Scott Bessent’s campaign to fast-track the Digital Asset Market Clarity Act through Congress. The crypto executive’s public endorsement comes as industry leaders scramble for regulatory certainty in an increasingly murky legal landscape.

Garlinghouse didn’t mince words when he backed Bessent’s push on Monday. The Ripple chief said lawmakers need to move fast on clear regulations that’ll protect investors while letting innovation flourish. “We need regulatory clarity now,” Garlinghouse said during a public statement that pretty much echoed what Treasury Secretary Bessent has been saying for weeks. The timing isn’t coincidental – Ripple’s still fighting the SEC over whether XRP counts as a security, and that legal mess has dragged on for years without resolution.

What the Bill Actually Does

The Digital Asset Market Clarity Act wants to settle the big questions once and for all. The legislation aims to define exactly what counts as a cryptocurrency and what doesn’t, plus it’ll set up standards for how these markets should operate day-to-day. Right now, companies like Ripple face a patchwork of state rules and federal guidance that often contradicts itself.

The bill includes specific provisions for classifying different types of digital assets – something that’s been a major headache for both regulators and crypto firms. It also establishes operational standards that exchanges and other market players would need to follow. If Congress passes this thing, it could completely reshape how digital assets get regulated across the United States. But that’s a big if.

Not everyone’s sold on the idea yet.

Some crypto companies are cautiously optimistic about the proposed rules, while others worry about implementation details that remain pretty vague. Coinbase has expressed tentative support for the framework, but CEO Brian Armstrong stressed during an April 5 webinar that uniform regulations across all states are crucial for keeping the U.S. competitive globally.

Congressional Timeline Stays Murky

Congress hasn’t scheduled a vote on the bill, leaving industry watchers guessing about when lawmakers might actually take action. Representative Warren Davidson announced plans for bipartisan hearings on April 11, which could signal movement ahead. Davidson said these hearings will make sure all stakeholders get heard before any legislative action happens. This echoes themes explored in Treasury Boosts Crypto Cybersecurity Intelligence Sharing, underscoring the shifting landscape.

Senator Cynthia Lummis, who’s known for backing crypto-friendly policies, has voiced tentative support for the act. But getting bipartisan consensus remains the real challenge – something that’s proven difficult on most crypto-related legislation in recent years. The lack of a concrete timeline only adds to the uncertainty that’s been plaguing the industry.

Meanwhile, the SEC has stayed quiet about the proposed act. Chair Gary Gensler previously said clearer crypto regulations are needed, but he hasn’t commented publicly on the Clarity Act’s specifics. Reached for comment about the bill, the SEC didn’t respond.

The regulatory uncertainty hasn’t stopped Ripple from expanding its business operations. On April 9, the company announced a new partnership with a major financial institution in the Asia-Pacific region – part of Ripple’s strategy to build global presence while navigating U.S. regulatory challenges. The same day, Ripple filed a motion to speed up its SEC legal proceedings, showing how urgent the regulatory situation has become.

Treasury Secretary Bessent made his case for the legislation during an April 8 financial conference in New York. He argued that without clear and consistent rules, the U.S. risks falling behind other nations in digital asset innovation. Bessent’s remarks have cranked up pressure on Congress to act, though lawmakers haven’t shown much urgency so far.

International regulators are watching these U.S. developments closely. The European Central Bank issued a statement on April 10 acknowledging American efforts to regulate digital assets. The ECB emphasized that coordinated global efforts are important for managing both risks and opportunities that cryptocurrencies present. This development aligns with Bitcoin Hits Fresh Peak Above ,000, highlighting broader market trends.

The crypto industry has dealt with regulatory chaos for years now. The SEC’s 2025 lawsuit against Ripple sent shockwaves through markets and prompted widespread calls for clearer guidelines from Washington. Companies have been operating in legal gray areas that make business planning extremely difficult. The proposed Clarity Act could prevent similar legal disputes in the future, but only if Congress actually passes it and regulators implement the rules effectively.

Hub: XRP price, news, and analysis

Several major crypto exchanges have already begun preparing compliance frameworks in anticipation of potential passage. Kraken started hiring additional regulatory specialists last month, while Binance.US announced internal policy reviews to align with proposed federal standards. These moves suggest industry players are betting on some version of comprehensive regulation becoming reality soon.

Market analysts point to recent cryptocurrency price volatility as evidence that regulatory uncertainty continues weighing on investor confidence. Bitcoin dropped 12% following mixed signals from federal agencies in March, while smaller altcoins experienced even sharper declines. Clear federal guidelines could stabilize these wild price swings that have made institutional adoption challenging.