Ripple CLO Backs CLARITY Act Despite Arthur Hayes Urging Trump Veto

Ripple CLO Stuart Alderoty has expressed his support for the proposed CLARITY Act. In contrary, Arthur Hayes, urged President Donald Trump to veto the measure.

Ripple CLO Supports CLARITY Act

In a a recent interview, Hayes said digital assets shouldn’t be bound by government regulations to keep their relevance. However, Ripple’s CLO has a different view on the matter.

In a post on X, Alderoty defended this bill. He argued that it is designed to provide retail participants with certainty in the digital asset marketplace.

“The Clarity Act isn’t about protecting an industry. It’s about protecting everyday Americans who deserve clear rules when they participate in the multi-trillion dollar crypto economy,” Alderoty wrote. He added, “67 million Americans already hold crypto. The data is in. It’s time.”

Meanwhile, lawmakers are debating on the future of the CLARITY Act in the United States. Thus, the Ripple CLO’s comments mark an important juncture as proponents beleive that the bill lays a formal structure would help cut down on the confusion among investors and companies in the crypto sector.

Now, regulators are looking at combing several bills into a tidy package before the bill reaches the Senate floor vote. Senator Cynthia Lummis has shared an optimistic outline as she expects a vote this summer.

Echoing a similar sentiment, Gemini is expecting a vote within 30 days.

What Does Arthur Hayes Say?

In the meantime, Hayes opposed the plan and recommended that Trump vetoes the CLARITY Act. In an interview for The Wolf Of All Streets podcast on May 13, the BitMEX co-founder wondered whether Bitcoin and other digital assets need to gain legitimacy through regulation.

“If Bitcoin and crypto need regulation to survive, they are not worth a penny,” Hayes said.

Hayes stated that the crypto market was meant to be a separate entity from conventional finance. He thus cautioned against policies that would entice the industry to be absorbed by the current regulatory framework. The industry has been developing an alternative financial network for over 10 years, he said.

Hayes was critical of the CLARITY Act, but noted that big financial companies are starting to shift towards crypto products due to client demand. Investors want to invest in assets that can protect against inflation and a declining purchasing power of fiat currencies, he said.

Hayes added that banks have commercial interest in moving into crypto offerings, as digital asset products generate extra revenue streams for banks. He insisted on keeping the crypto as it was and not making it adapt itself to the regulatory approval noted in the CLARITY Act.

Still, the Senate decided to move forward with the crypto bill with a 15-9 vote during its markup phase.