Ripple CLO Reassures XRP Holders After Clarity Failure
Ripple Chief Legal Officer Stuart Alderoty has moved to reassure the XRP community following the crypto industrys dramatic failure in the Senate. “Dont forget - Ripple and XRP stand on settled ground,” Alderoty wrote after the vote. “The 2023 federal Court ruling established XRP is not a security.” The Ripple legal chief also pointed to more recent regulatory guidance from the Securities and Exchange Commission and Commodity Futures Trading Commission. And in March the SEC and CFTC issued a joint interpretation naming XRP a Crushing Senate defeat Alderotys comments came after the Senate failed to advance the Clarity Act. Senators voted 49-50 against invoking cloture on the motion to proceed to the legislation. Sixty votes were required. The bill was 11 votes short of the threshold. No Democratic senator voted to invoke cloture. Democratic Sens. Kirsten Gillibrand, Mark Warner, Cory Booker, Raphael Warnock, Ruben Gallego, Angela Alsobrooks, Catherine Cortez Masto, Lisa Blunt Rochester and John Fetterman were among those voting against advancing the legislation. Republican Sens. Susan Collins, Josh Hawley and Jerry Moran also voted no. The failure came despite another round of intense negotiations immediately before the vote. “This one stings” Ripple CEO Brad Garlinghouse made little attempt to hide his disappointment after the result. “This one stings,”









