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Ripple CLO says Sept. 15 procedural vote will test Clarity Act prospects

Ripple Chief Legal Officer Stuart Alderoty said Sept. 15 is the first Senate floor procedural motion on the Clarity Act, and warned any failure could push crypto-adjacent U.S. jobs and activity offshore.

Reported · Written up by our desk · Regulation

Ripple Chief Legal Officer Stuart Alderoty said Sept. 15 will be a key bellwether for the Clarity Act, as lawmakers face a narrowing window to advance the crypto market structure bill in Congress. According to The Block, Alderoty pointed to the date as the first procedural motion on the Senate floor, describing it as a motion to proceed that would require 60 votes.

Alderoty also argued regulators will keep moving even if the legislation stalls. The Block reports that he cited statements from the SEC and the CFTC indicating they would continue crypto rulemaking, and he pointed to coordination between the agencies as a positive sign.

He further warned that failing to secure a legislative framework could affect the U.S. economy, including jobs and investment. The Block notes Alderoty referenced 232,000 crypto-adjacent U.S. jobs generating $55 billion in economic activity that could be pushed offshore if the bill does not move forward.

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