Ripple CEO: Flawed crypto bill is better than current market chaos

Ripple (XRP) CEO Brad Garlinghouse has voiced his support for the U.S. crypto market structure bill, known as the CLARITY Act, stating that an imperfect law is preferable to the current market uncertainty. In a recent interview, he argued that clarity is better than chaos and that the industry needs clear rules to operate effectively, even if they are not perfect initially, CryptoBasic reported. Garlinghouse urged industry participants to continue engaging with lawmakers and propose improvements rather than turning away in frustration. However, the CLARITY Act faces significant opposition within the U.S. crypto industry. Coinbase, for instance, has withdrawn its support for the bill, citing several concerns. These include a de facto ban on tokenized securities, the potential to block DeFi while allowing unlimited access to financial data, a weakening of the Commodity Futures Trading Commission's (CFTC) authority relative to the SEC, and the possible prohibition of stablecoin reward features.