Ripple Executives Oppose CLARITY Act, Citing Consumer Protection Risks

Ripple's global head of public policy and government affairs, Lauren Belive, stated that opposition to the CLARITY Act is not anti-crypto but anti-consumer, as it would leave crypto holders exposed to bad actors exploiting regulatory arbitrage. According to ChainCatcher, Belive noted that while a U.S. digital asset market already exists, federal rules to protect consumers have not kept pace, and the regulatory gaps that led to the FTX collapse and customer fund losses remain. Belive said the CLARITY Act would grant the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) clear joint jurisdiction over the digital asset market and require regulatory oversight before tokens enter the market. Ripple Chief Legal Officer and National Cryptocurrency Association President Stuart Alderoty added that opposing the CLARITY Act would allow the current unregulated status to persist and be exploited by bad actors.