Ripple legal chief: crypto holders aren’t a fringe — they’re a voting bloc lawmakers must reckon with
Stuart Alderoty, Ripple’s general counsel and president of the National Cryptocurrency Association, is pressing a simple point: crypto ownership is no longer a niche hobby — it’s a mass-market constituency that Washington can’t ignore. In a July 7 post on X, Alderoty cited association data showing roughly 67 million U.S. adults — about one in four Americans — now own crypto, a group he says is “by any reasonable standard” a large national public.
The numbers are shifting the profile of who holds crypto. The 2026 State of Crypto Holders Report, cited by Alderoty, finds the U.S. added about 12 million crypto holders over the past year. The report also highlights changing demographics: women comprised 42% of new holders in 2025–26 (up from 34% among earlier adopters); nearly a quarter of holders report annual household income of $75,000 or less; and construction and manufacturing workers now account for more than 21% of holders. Alderoty used those figures to argue crypto ownership now reaches working- and middle-class households, not just wealthy tech professionals or short-term speculators.
Alderoty’s remarks come as Congress debates the CLARITY Act, legislation intended to establish federal rules for crypto markets. The bill missed an initial July 4 target and faces an Aug. 7 deadline before the Senate’s summer recess. While the measure has cleared some procedural hurdles — including a 15–9 vote in the Senate Banking Committee in May — it still needs a full Senate vote, 60 votes to overcome a filibuster, and reconciliation of versions drafted by the Banking and Agriculture committees. Key sticking points include ethics language, anti-money‑laundering provisions, and agency oversight.
Public polling paints a mixed picture for lawmakers. A Politico/Public First survey found crypto is a low priority for most voters — just 4% said a candidate’s crypto position would shape their vote — and a separate poll showed only 27% public support for the CLARITY Act. Alderoty pushed back that the 27% figure roughly mirrors current crypto ownership and should not be used to dismiss the constituency. At the same time, groups such as Americans for Financial Reform report that voters across party lines worry about industry influence in Washington and want stronger, bank-like rules for crypto firms.
Political influence and spending in the industry are rising. Reuters reported crypto companies have spent about $189 million so far on the 2026 U.S. election cycle — topping 2024 totals — with firms including Ripple Labs, Coinbase, Andreessen Horowitz and Foris DAX listed among major contributors to policy-focused PACs.
Alderoty’s central argument frames the policy choice facing lawmakers: they don’t need to back any particular token, he says, but Congress must decide whether 67 million holders constitute a niche group or a public market deserving clear regulatory guardrails. With demographic shifts, growing political spending and a high‑stakes bill lingering in the Senate, the question is likely to stay front and center in Washington.
Read more AI-generated news on: undefined/news
