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Ripple Chief Legal Officer Stuart Alderoty is urging U.S. senators to back the Digital Asset Market Clarity Act in a push to link the bill with job creation and economic development during a critical procedural vote in September.
With respect to jobs, Alderoty writes on Aug. 30 that “A vote for Clarity is a vote for jobs and economic growth”, a policy argument rather than a quantitative prediction. Alderoty, as president of the National Cryptocurrency Association, commissioned research on employment that he is using to provide evidence for the policy argument.
In the Crypto at Work report by Pragmatic Policy Group commissioned by the NCA, U.S. crypto businesses will have 34,000 FTEs in 2026. Including the crypto supply chain and spending made by those who work in the crypto economy, the report estimates 232,000 total jobs in the U.S. crypto economy in 2026.
The larger figure does not include direct crypto payroll, but estimates about 75,000 crypto jobsg, enabled directly or indirectly by crypto jobs. It draws from input-output tables from the Bureau of Economic Analysis and Bureau of Labor Statistics data, and an industry revenue estimate of $23.22 billion
It projects that crypto activity will contribute more than $55 billion to the U.S. GDP in 2026, and generate about $31 billion in worker income.
The average salary of jobs covered by the model was about $133,000. At the state level, the model estimated that California had 57,649 jobs, followed by New York with 53,766 and Texas with 26,536.
These calculations are not official government payroll statistics, but are commissioned by an industry organization headed by Alderoty. It does not project hiring.
The bill must pass a second Senate hurdle, with a cloture rule vote on H.R. 3633, scheduled on September 15, before formal consideration of the bill begins in the Senate. The motion requires approval by 60 votes.
In July 2025, the bill passed the House 294-134 with 78 Democrats voting with Republicans. The Senate Banking Committee also advanced a slightly modified version of CLARITY. Because the Senate text differs from the measure that passed the House, both chambers would have to pass the same text of legislation before it could go to the president.
CLARITY seeks to provide definitions and registration requirements for digital assets as well as digital asset exchanges, brokers, and dealers and divide regulatory authority between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Even if cloture passes, the Senate could still debate and amend the bill before a final vote. Ethical provisions as well as stablecoin rules and consumer protections remain unresolved.
Alderoty’s jobs argument is based on the industry’s current level of economic activity and the assumption that more certainty at the federal level will lead to more economic growth. While the NCA study gives a snapshot of modeled activity today, it doesn’t prove that CLARITY would lead to job gains.
Source: <a href="https://bitcoinfoundation.org/news/regulation/ripple-lawyer-says-clarity-act-could-boost-u-s-jobs-as-crucial-senate-vote-nears/” target=”_blank” rel=”nofollow noopener”>bitcoinfoundation.org