Ripple co-founder urges swift passage of U.S. CLARITY Act ahead of Senate vote

Ripple co-founder Chris Larsen urged swift passage of the CLARITY Act ahead of a Senate vote, CoinGape reported. Larsen said the bill would play an important role in setting criteria for determining whether cryptocurrencies should be classified as securities or commodities, adding that the issue remains one of the biggest unresolved challenges in crypto regulation. While issues including ethics provisions sought by some Democratic lawmakers remain outstanding, Larsen said lawmakers need to find a compromise and stressed that having no regulatory bill in place would be worse.