SBI Holdings Chairman Yoshitaka Kitao has expressed strong confidence in the future of the cryptocurrency industry, even as digital asset markets continue to face significant selling pressure. The Ripple-affiliated executive believes the proposed CLARITY Act could become a major catalyst for the crypto sector and help strengthen regulatory certainty in the United States.
Kitao’s comments came after the Digital Asset Market CLARITY Act was officially placed on the U.S. Senate Legislative Calendar under General Orders as Calendar No. 423. The move advances the legislation closer to a full Senate vote when lawmakers return to Washington.
The bill previously received bipartisan support in the Senate Banking Committee, passing with a 15-9 vote on May 14. Following committee approval, lawmakers are now preparing the final report that includes the amendments adopted during the legislative review process.
Despite ongoing volatility across the crypto market, Kitao remains optimistic about the long-term outlook for digital assets. He emphasized that the core fundamentals of cryptocurrencies remain intact and argued that the CLARITY Act could provide substantial benefits to Ripple, XRP, and the broader blockchain industry.
According to Kitao, the implementation of a clear regulatory framework in the United States would improve confidence among investors and businesses while supporting further innovation across the crypto ecosystem.
“The fundamentals remain strong, and I believe the enactment of the CLARITY Act would have a positive impact on the cryptocurrency market, including Ripple,” Kitao stated.
Institutional Capital Rotation and AI Influence
While discussing the recent crypto market downturn, Kitao suggested that institutional investors may be reallocating capital in preparation for several highly anticipated technology-related public offerings in the United States.
He pointed to the expected IPOs of companies such as SpaceX, Anthropic, and OpenAI as potential reasons why some institutional investors may be reducing exposure to cryptocurrencies in the short term.
His remarks gained additional attention following SBI Holdings’ recent partnership with artificial intelligence company Anthropic. Through the collaboration, SBI Holdings will deploy Anthropic’s Claude AI platform across its operations, becoming the first major financial group in Japan to implement the technology on a company-wide scale.
The integration will allow SBI to utilize AI across multiple business divisions, including banking, securities, insurance, asset management, cryptocurrency services, and media operations. The company also plans to explore the development of new AI-powered financial products and services.
Crypto Market Faces Heavy Selling Pressure
Despite optimism surrounding regulation and innovation, the cryptocurrency market continues to struggle amid broader macroeconomic uncertainty. Over the past 24 hours, nearly $200 billion has been erased from the total crypto market capitalization.
Bitcoin led the decline, falling below the $66,000 level, while Ethereum, XRP, Solana, and several other major cryptocurrencies recorded sharp losses.
Market analysts have largely attributed the selloff to escalating geopolitical tensions, particularly concerns surrounding the U.S.-Iran conflict. Reports indicating that Iran had suspended discussions with the United States intensified risk-off sentiment across global financial markets.
At the same time, oil prices surged as investors grew increasingly concerned about potential disruptions to shipping routes through the Strait of Hormuz, one of the world’s most important energy transit corridors. The combination of geopolitical uncertainty and rising energy prices has weighed heavily on risk assets, including cryptocurrencies.
