Ripple CEO Brad Garlinghouse said the GENIUS Act marked a turning point for many financial institutions entering crypto, even as the broader CLARITY Act remains stalled in Congress. Speaking at Ripple Swell in New York on Wednesday, Garlinghouse described the 2025 stablecoin law as a watershed moment for the industry. He acknowledged that the CLARITY Act, which would set out clear rules for crypto market structure, has not passed. However, he said the SEC and CFTC are now leaning on their own rulemaking powers to cover areas the bill was meant to address, a shift he said the industry should be very excited about. The CLARITY Act stalled this month after Senate Democrats voted against a motion to proceed.
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