Ripple's CLO argues 67 million American crypto owners represent significant political constituency amid CLARITY Act regulatory framework discussions.
Regulation & Gov ·
Ripple's Chief Legal Officer challenged how media outlets have characterized public support for crypto legislation, contending that a 27% figure in polling data represents approximately 67 million American adults holding digital assets—a constituency too large to dismiss as politically marginal. The figure aligns with the National Cryptocurrency Association's finding that roughly one in four adults in the country own crypto, up from one in five the prior year, with 12 million new entrants joining in the past year alone. Women now account for 42% of recent holders, rising female ownership by 10 percentage points year-over-year, suggesting demographic breadth beyond traditional stereotypes of the sector's base.
The broader polling data shows headwinds: 45% of Americans view digital currencies as too risky, 25% see value in them, and just 9% would trust a crypto platform over traditional banks. Yet the CLO argued these metrics reflect general risk aversion rather than outright rejection, noting that 69% of crypto holders express trust in the asset class—exceeding the 65% who trust traditional banking institutions.
The remarks surface amid negotiations over the CLARITY Act, which would establish a regulatory structure for crypto markets. The bill cleared the Senate Banking Committee in May but missed a July 4 signing deadline at the White House, leaving lawmakers compressed time before August recess to advance it through a full Senate vote and reconcile competing committee versions before any House consideration.