Ripple Chief Legal Officer Stuart Alderoty urged US senators to support the Digital Asset Market Clarity Act (CLARITY Act) ahead of a key procedural vote. Framing his advocacy around economic expansion, Alderoty stated on August 30 that “a vote for Clarity is a vote for jobs and economic growth”. Alderoty also serves as president of the National Cryptocurrency Association (NCA), the trade association behind the employment data supporting his policy pitch.
While Alderoty presents the bill as a catalyst for national employment, his statement functions as an industry policy stance rather than an independent projection of precise job creation. The arguments rely heavily on current economic modeling rather than concrete empirical measurements of future hiring under the proposed regulatory framework.
Economic Modeling Highlights Crypto Footprint
The foundation for Alderoty’s statement is the Crypto at Work report, produced by Pragmatic Policy Group for the NCA. The study projects that the US digital asset sector directly employs approximately 34,000 full-time-equivalent workers in 2026. However, using input-output economic models from the 2024 Bureau of Economic Analysis paired with industry revenue data, the study calculates a broader employment footprint of 232,000 jobs nationwide.
This 232,000 total does not represent direct crypto company payrolls. Instead, it incorporates roughly 75,000 supplier jobs and 123,000 induced positions created through worker spending across auxiliary sectors such as real estate, cloud computing, legal services, and accounting.
The NCA report estimates that digital asset activity generates over $55 billion in annual US gross domestic product and supports $31 billion in total compensation. Workers across the modeled ecosystem earn an average wage of $133,000, roughly double the national median of $64,000. Geographically, employment remains heavily concentrated in major tech and financial hubs:
- California: 57,649 supported jobs
- New York: 53,766 supported jobs
- Texas: 26,536 supported jobs
- Washington: 15,097 supported jobs
- North Carolina: 9,524 supported jobs
Because these figures represent modeled economic impact rather than a live payroll census, industry analysts note they measure the sector’s existing footprint rather than the specific net gain from legislative changes.
Legislative Steps and Upcoming Senate Cloture Vote
The legislative path for the CLARITY Act faces a critical hurdle on September 15 at 2:15 p.m. Eastern, when official Senate records schedule a cloture vote on H.R. 3633. Reaching the 60-vote threshold on the motion to proceed requires bipartisan support to begin formal Senate debate.
The bill previously cleared the House of Representatives by a 294-134 vote in July 2025, supported by 78 Democrats alongside Republicans. The Senate Banking Committee later advanced an amended version by a 15-9 margin in May 2026.
The proposed statutory framework establishes clear market structure rules by dividing federal oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Clearing cloture would only initiate floor debate, leaving room for further amendments. Because the Senate text differs from the House-passed bill, both chambers must reconcile and pass identical language before sending the final legislation to the president. Ongoing debates surrounding stablecoin yield protections and public official ethics rules remain active friction points among lawmakers.
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