Ripple CEO Brad Garlinghouse says XRP legal status remains unchanged after CLARITY Act vote fails

The US Senate failed to advance the Digital Asset Market CLARITY Act after falling short of the required 60 votes. Ripple CEO Brad Garlinghouse expressed disappointment, characterizing the outcome as a missed opportunity for American competitiveness in digital finance. Despite the legislative setback, Garlinghouse stated that Ripple's business momentum remains strong. Ripple Chief Legal Officer Stuart Alderoty emphasized that XRP's legal standing is secure, citing a 2023 federal court ruling that XRP is not a security and a joint interpretation by the SEC and CFTC classifying it as a digital commodity. The industry now expects regulatory rulemaking to continue through the SEC and CFTC.