Ripple CLO Urges Senate to Hear from 67 Million US Crypto Holders
Ripple Chief Legal Officer Stuart Alderoty has contacted the offices of senators who oppose the CLARITY Act or have not yet decided how they will vote, urging them to hear from ordinary crypto holders before the legislation faces a 60-vote procedural test on Sep. 15.
Alderoty asked lawmakers to meet “real people with digital assets” and hear how federal crypto rules could affect them, arguing that senators should not limit their discussions to lobbyists, industry executives, and trade groups.
The 67 Million Holder Argument
Alderoty’s appeal draws on research from the National Cryptocurrency Association, which estimates that about 67 million people in the United States own cryptocurrency. According to the association’s 2026 survey, around one in four American adults holds some form of digital asset.
The Ripple executive said the size of that population gives individual holders a direct stake in legislation that could change how tokens, trading platforms, and other crypto services operate in the U.S. His request adds a retail-focused argument to a lobbying campaign that has largely centered on companies, banks, and Washington policy groups.
Grassroots and Banking Lobbying Push
Reuters reported on Sep. 9 that Stand With Crypto supporters called or emailed members of Congress nearly 50,000 times during August. The advocacy group also arranged meetings and placed opinion articles in local newspapers while senators spent their recess in their home states.
Banking organizations have run their own campaign. According to Reuters, the Independent Community Bankers of America has asked local bankers to contact senators over provisions that the group believes could let digital tokens compete with bank deposits and reduce funds available for lending.
CLARITY Act Faces a Critical Senate Procedural Vote
The Senate’s Sep. 15 action will not decide whether the CLARITY Act becomes law. Senators are expected to vote at about 2:15 p.m. ET on cloture for the motion to proceed, a step that would allow the chamber to begin formal debate on the legislation.
The 60-Vote Math
Cloture requires support from 60 senators. Republicans hold 53 seats, meaning the bill needs votes from at least seven Democrats or independents even if every Republican supports moving forward. Full Republican support is not assured, however. Party members have raised concerns about presidential ethics rules, stablecoin rewards, and the treatment of decentralized finance, and any defections would increase the number of opposition-party votes needed to cross the threshold.
Senate Majority Leader John Thune filed cloture on the motion to proceed before the August recess, according to a report. The filing placed the vote one day after senators are scheduled to return to Washington, leaving limited time for negotiations.
What a Successful Vote Would Unlock
If cloture succeeds, senators could debate the bill, propose amendments, and later hold a separate vote on passage. Failure to secure 60 votes would prevent the chamber from taking up the measure under the scheduled process.
The legislation would create a federal market structure for digital assets and divide oversight duties between the SEC and the CFTC. Its rules would also help determine when a digital asset falls under securities law and when it should be treated as a commodity.
The measure passed the House by 294 votes to 134 in July 2025 and advanced from the Senate Banking Committee in May 2026 by a 15–9 vote. Only two Democrats supported it at the committee stage, leaving Senate leaders with a difficult calculation for the floor vote.
Ethics Dispute Threatens Bipartisan Support
Presidential ethics provisions remain one of the main obstacles in Senate negotiations. Democrats have sought tighter restrictions on digital-asset activities involving the president, senior government officials, and their families.
Their concerns have included crypto businesses connected to President Donald Trump and his relatives, including World Liberty Financial and the Official Trump meme coin. Democratic senators argue that the pending language does not provide enough protection against conflicts of interest, illicit finance, and possible influence over federal policy.
Republican Warnings and Differing Assessments
Sen. Cynthia Lummis, one of the bill’s main supporters, has blamed Democratic demands for putting the legislation at risk while maintaining that the remaining differences can still be resolved.
Sen. Mike Rounds gave a more cautious assessment, saying the bill’s prospects “don’t look good right now.” Sen. Thom Tillis also warned that the measure would fail if lawmakers and the White House showed no interest in closing the gap over ethics provisions.
Stablecoin Rewards and DeFi Developer Protections
Stablecoin rewards have created another dispute. Community banks contend that rewards offered on stablecoin balances could draw deposits away from insured banks, while crypto companies oppose restrictions that would prevent third parties from offering such payments.
Lawmakers have also debated legal protections for decentralized finance software developers. Some senators want stronger safeguards for developers who do not control customer assets, while others have sought rules intended to address money laundering and other illicit financial activity.
What Happens Next for US Crypto Holders
For American token holders, the bill’s division of authority between the SEC and CFTC could affect how trading platforms list assets and which federal rules apply to their transactions. The legislation would also set requirements for intermediaries operating in the U.S. digital-asset market.
Supporters say a statutory framework would replace part of the uncertainty created when agencies apply existing securities and commodities laws to crypto products. Critics, including several Senate Democrats, say any framework must include stronger consumer, financial-crime, and ethics protections.
Ripple executives have repeatedly supported congressional action on crypto market structure. Earlier in September, CEO Brad Garlinghouse weighed in on the country’s regulatory framework while saying that making the United States a global center for crypto remained “within reach.”
Even if senators approve the motion to proceed and later pass the bill, the legislative process would not be complete. Any Senate text that differs from the House-approved version would need to be reconciled between the two chambers before it could go to the president. The House is scheduled to have only four legislative days in session after Sep. 15 before another recess, giving lawmakers little time to review and approve any changes adopted by the Senate.
