Thune Drops the Gavel, Crypto CEOs Sharpen the Pencils 🪙

Senate Majority Leader John Thune is preparing to force a full Senate floor vote on the Clarity Act next week, even without bipartisan support, according to reporting from CoinGape. The push sets the stage for a high-stakes legislative moment that has drawn coordinated public support from the heads of two of the largest U.S. crypto companies.

Ripple CEO Brad Garlinghouse took to X to urge Congress to pass the Clarity Act after Democrats opposed the latest version of the crypto bill text. Garlinghouse echoed comments from Ripple Chief Legal Officer Stuart Alderoty, who said "perfect can't be the enemy of good." Alderoty characterized the Clarity Act as a consumer protection bill that includes strong AML and KYC measures and gives tools to law enforcement and state attorneys general. "Leave it on the table and consumers are left twisting in the wind with the status quo with no clear standards for bad actors," Alderoty said, as quoted by CoinGape.

Coinbase CEO Brian Armstrong said the Clarity Act is ready for a full Senate floor vote and called on lawmakers to advance the legislation. Industry executives have framed the bill as a long-sought framework to define digital asset oversight, with Ripple and Coinbase publicly aligning on the need for congressional action.

Thune's plan to bring the bill to the floor comes as negotiations continue over the scope of the legislation and the level of Democratic support. The crypto industry has intensified lobbying in recent weeks, with executives warning that delays leave investors and companies operating under uncertain rules. Neither Thune's office nor Senate Democrats have publicly confirmed final language for the upcoming vote, and the specific date for the floor action next week has not been announced.