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67M Crypto Holders Put Pressure on Senate as Ripple Pushes CLARITY Act Showdown

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Key Takeaways:

  • Ripple CLO Stuart Alderoty is pleading with the offices of the Senate to meet people who hold crypto daily before the vote on September 15th.
  • According to the National Cryptocurrency Association, over 67 million Americans own cryptocurrency or approximately one in four adults.
  • The Senate vote is a procedural step that must be approved by 60 votes to move the CLARITY Act toward debate.

Ripple is making a direct appeal to lawmakers, seeking to have senators listen to regular digital-asset holders before taking action on the CLARITY Act. The appeal follows a crucial Senate vote days away that could make or break passage of the market-structure bill.

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Ripple Wants Senators to Hear From Crypto Users

The offices of the Senate were invited to meet with a real American crypto holder prior to the 15th of September vote, according to Stuart Alderoty, chief legal officer and president of the National Cryptocurrency Association (NCA) representing Ripple.

Alderoty would like legislators to hear directly from individuals who rely on crypto in their everyday activities, not just lobbyists or policy groups.

American crypto holders included teachers, plumbers, photographers, and supply-chain managers, the NCA emphasized. Its recent study claims that over 67 million people are now the number of cryptocurrency holders in the United States, which is equivalent to about a quarter of all U.S. adults.

It’s also created a state and congressional-district map of crypto ownership, making it clear that digital assets aren’t just for tech-savvy people.

Read More: Ripple Prime Secures $275M Funding Boost to Power Its Expanding U.S. Crypto Business

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Crypto Ownership Becomes a Political Argument

Alderoty’s message brings individual users to the forefront of the legislative discussion.

According to the NCA’s research, who is holding cryptos is now using digital assets more than for investing. It was discovered that 41% of them send cryptocurrency to relatives or peers and 40% use them for shopping and payments.

That information will offer industry a consumer centric basis for the purpose of conversations on legislation that may be a part of the forthcoming U.S. classification and regulation of digital assets.

CLARITY Act Faces 60-Vote Senate Test

The voting on the CLARITY Act by the Senate on September 15 is about advancing the bill for consideration. It’s not a decision as to whether the Bill becomes an Act.

The bill needs a 60 vote majority, so it must be supported by both members of both parties. In the past, Ripple has called the vote a significant milestone in the bill’s journey through the Congress.

There are consumer protection, financial crime, and viable reward and ethics issues surrounding the question of cryptocurrencies.The political battle has escalated before the elections.Β 

The new campaign is Ripple’s next step in its extended effort to gain greater clarity in U.S. crypto laws, this time appealing to the millions of Americans who hold and use cryptocurrencies, rather than the companies developing the technology.

Read More: CLARITY Act Nears Senate Vote as Solana Pushes Critical Crypto Developer Protections

The post 67M Crypto Holders Put Pressure on Senate as Ripple Pushes CLARITY Act Showdown appeared first on CryptoNinjas.


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