Ripple CEO Confirms White‑House Meeting on Crypto‑Banking Market Structure Bill
Washington, D.C., Feb. 19 – Ripple’s chief executive officer, Brad Garlinghouse, told Fox News on Thursday that the company’s chief legal officer, Stuart Alderoty, took part in a high‑level discussion at the White House earlier in the day. The meeting brought together officials from the U.S. administration, representatives of the cryptocurrency sector and senior figures from the banking industry to hash out outstanding issues in the Senate’s digital‑asset market‑structure proposal, widely known as the “CLARITY Act.”
Background
The CLARITY Act, which passed the House of Representatives in July, seeks to establish a regulatory framework for digital assets, including stablecoins, tokenized securities and decentralized‑finance (DeFi) products. While the bill cleared the House, it has encountered a series of setbacks in the Senate. Delays have been caused by two federal government shutdowns—the most prolonged in U.S. history lasting 43 days in 2025—concerns from Democratic lawmakers over potential conflicts of interest, and lobbying pushes for additional provisions on stable‑coin yield and DeFi.
Earlier this month, a separate gathering at President Donald Trump’s Mar‑a‑Lago club, organized by World Liberty Financial, saw CFTC Chair Michael Selig, two U.S. senators and several crypto‑industry executives discuss the legislation. Ohio Senator Bernie Moreno expressed confidence that the CLARITY Act would clear Congress and be signed into law by April.
The White‑House Session
Garlinghouse’s remarks confirmed that Alderoty participated in a White‑House session that focused on reconciling divergent positions on stable‑coin yield‑related provisions and other technical aspects of the bill. The meeting is described by the Crypto Council for Innovation (CCI) as “constructive” and as building on prior dialogues to shape a framework that safeguards American consumers while bolstering U.S. competitiveness in the global crypto arena.
White‑House crypto advisors Patrick Witt and David Sacks have not publicly commented on the specifics of the discussion.
Legislative Outlook
The CLARITY Act now awaits markup by the Senate Banking Committee, a crucial step for its advancement. The Senate Agriculture Committee advanced its own version of the market‑structure bill in January, but the Banking Committee has stalled. The delay follows public objections from Coinbase CEO Brian Armstrong, who argues that the bill’s restrictions on rewards paid to stable‑coin holders could undermine consumer incentives and shift authority from the Commodity Futures Trading Commission (CFTC) to the Securities and Exchange Commission (SEC). Armstrong also raised concerns about language pertaining to tokenized equities.
As of Thursday, the Banking Committee had not set a new date for its markup session, leaving the bill’s timetable uncertain.
Analysis
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Industry‑to‑Government Dialogue: Ripple’s confirmed presence signals that major crypto firms remain actively engaged in shaping U.S. policy. By sending a senior legal representative, Ripple appears intent on influencing the bill’s language on stable‑coin yields, a contentious point for both issuers and regulators.
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Banking Sector Influence: The inclusion of banking representatives at the White‑House meeting underscores the sector’s stake in any regulatory regime that could affect liquidity, custodial services, and the integration of crypto assets into traditional finance.
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Regulatory Balance: The CLARITY Act’s trajectory illustrates the delicate balance lawmakers must strike between fostering innovation and protecting consumers. Stable‑coin yield provisions, while encouraging broader adoption, raise questions about risk, transparency and the applicability of existing securities or commodities regulations.
- Timing Risks: With the Senate Banking Committee’s markup postponed and no clear rescheduling, the projected April enactment timeline may be optimistic. Further lobbying from industry players—both supportive and oppositional—could extend the legislative process.
Key Takeaways
- Ripple involvement confirmed – Stuart Alderoty attended a White‑House meeting on the CLARITY Act, indicating direct crypto industry participation in the policy‑making process.
- Stable‑coin yields remain a flashpoint – Both the crypto community and banking sector are negotiating the scope of permissible rewards on stable‑coin deposits.
- Legislative bottleneck – The Senate Banking Committee’s postponement, driven in part by Coinbase’s objections, is the primary obstacle to the bill’s progress.
- Crypto‑policy momentum – Recent high‑profile gatherings, from Mar‑a‑Lago to the White House, suggest sustained governmental interest in finalizing a U.S. digital‑asset regulatory framework.
The coming weeks will reveal whether the White‑House discussion translates into concrete amendments that can satisfy both the crypto industry’s growth aspirations and the banking sector’s risk‑management requirements. Stakeholders will be watching closely for any shift in the Senate’s schedule and for further statements from key legislative figures.
Source: https://cointelegraph.com/news/ripple-ceo-white-house-meeting-crypto-banking-clarity?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
