Garlinghouse Accuses Jamie Dimon of Misstating CLARITY Act

Ripple CEO Brad Garlinghouse accused JPMorgan CEO Jamie Dimon of misrepresenting the CLARITY Act and encouraging resistance to the bill as senators prepare to vote. Garlinghouse said the comments mischaracterize how the bill would affect compliance and regulatory oversight.

Garlinghouse argued the legislation clarifies which federal agencies oversee different digital-asset activities and assigns responsibilities rather than lowering compliance standards. He accused Dimon of portraying the bill as weakening oversight and making it easier to commit wrongdoing. “He’s representing that this reduces compliance concerns, that it makes it easier to do bad things. That’s just not true. It’s either intentional misrepresentation or even negligent to try to make support for the CLARITY Act go away,” Garlinghouse added.

The CLARITY Act would set out a U.S. framework for digital assets by defining supervisory roles for federal regulators and aiming to increase legal certainty for firms and investors. Supporters argue clearer rules could encourage more institutional participation and reduce the relocation of capital, talent and trading activity to foreign markets.

Jamie Dimon has voiced long-standing skepticism of parts of the crypto industry while backing selected blockchain projects inside JPMorgan. He publicly vowed to oppose the CLARITY Act, stating: “We will fight the CLARITY Act. If we lose, we lose, and we’ll live. But it will be fought.” Dimon has questioned whether the bill could create regulatory gaps or raise financial risks.

Garlinghouse suggested JPMorgan has business reasons to defend current market structures, pointing to the bank’s payments business as an area that could face competition from blockchain-based infrastructure. Ripple executives have described company efforts in liquidity products, artificial intelligence for payments and plans for an RLUSD stablecoin as initiatives that would benefit from clearer legal rules.

The House has already approved the CLARITY Act and the Senate Banking Committee cleared the bill. The White House has expressed an aim to sign a crypto framework into law by July 4, 2026. With a compressed congressional calendar before the August recess, lawmakers face a shortened window to act.

The dispute between the two executives has increased public attention on the bill as senators consider how the CLARITY Act would shape oversight, market structure and competition in payments and trading.