Ripple CEO Brad Garlinghouse said recent developments around the proposed Clarity Act mark a notable change in momentum, pointing to growing political support and a clearer legislative path in the U.S.
Speaking at Consensus 2026 on Tuesday, Garlinghouse described the past week as a “big positive shift,” adding that progress in Washington appears more tangible than in previous months.
Senate backing signals movement
Garlinghouse highlighted support from Thom Tillis as a key development, suggesting it strengthens the bill’s chances of advancing.
He noted that a committee markup, while not formally scheduled, could take place as early as mid-May. If the bill clears that stage, he said the probability of securing bipartisan backing on the Senate floor increases significantly. According to Garlinghouse, reaching the 60-vote threshold required for passage now looks more achievable than before, though he acknowledged the process is still ongoing.
Stablecoin yield fight intensifies ahead of markup
Just days before the U.S. Senate Banking Committee is expected to mark up the Digital Asset Market Clarity Act, a key point of contention, stablecoin yield, has drawn public opposition from major banking groups.
Five industry bodies, including the American Bankers Association and Bank Policy Institute, issued a joint statement criticizing the Tillis-Alsobrooks compromise. They argued the current language does not go far enough to prevent yield-bearing stablecoins, warning such products could significantly reduce traditional lending activity.
Lawmakers backing the bill pushed back quickly. Cynthia Lummis, a leading supporter of the legislation, said the compromise reflects months of negotiations and brings the bill closer to passage. She has previously framed the current congressional window as critical for advancing comprehensive crypto regulation.
Tillis, who worked on the compromise with Angela Alsobrooks, defended the approach, saying lawmakers had engaged with stakeholders and aimed to balance concerns without derailing progress. He emphasized the need for compromise rather than delaying legislation over unresolved disagreements.
Optimism despite delays
While cautioning that the legislation is not finalized, Garlinghouse said his outlook has remained largely positive throughout the process.
He acknowledged periods of uncertainty but argued that recent alignment among lawmakers suggests a shift in sentiment. The tone, he said, has moved from stalled discussions to active consideration.
The timeline remains uncertain, particularly with upcoming political cycles in the U.S. potentially affecting legislative priorities. Garlinghouse suggested that if the bill advances out of committee soon, it could gain enough momentum to move forward before the next election cycle complicates the process.
Broader push for regulatory clarity
The Clarity Act is part of a wider effort to establish clearer rules for digital assets in the United States, an issue that has drawn sustained attention from companies like Ripple.
Garlinghouse’s remarks reflect a broader industry view that regulatory certainty remains critical for long-term growth, even as the legislative process continues to unfold.
What comes next
For now, attention is on whether the bill reaches markup and advances out of committee. Garlinghouse said that step would be a meaningful signal of progress, though final passage will depend on continued bipartisan support.
He maintained that while the outcome is not guaranteed, recent developments have shifted expectations toward a more optimistic scenario.
