"Ripple CEO Brad Garlinghouse predicts an 80% chance of the CLARITY Act passing by end-April, potentially bridging the gap between banking and crypto secto
United States: Ripple CEO Predicts 80% Chance of CLARITY Act Passage by End of April
Ripple Chief Executive Officer Brad Garlinghouse has expressed optimism that the Digital Asset Market Clarity Act (CLARITY Act) will become law before April ends, with the odds currently estimated at 80%. Despite this upbeat outlook, cryptocurrency markets have shown no signs of response, as both Bitcoin (BTC) and Ethereum (ETH) prices continue to decline.
Garlinghouse's prediction marks the most optimistic stance among industry commentators, as the CLARITY Act has faced significant legislative headwinds in the Senate following its smooth passage through the US House of Representatives. Key points of contention include opposition from banking sector players regarding stablecoin yields for holders.
Garlinghouse's recent statements suggest that a consensus between parties within the banking and cryptocurrency sectors may be reached in the coming weeks, paving the way for the bill's approval. He emphasized the need for both sides to find common ground, stating, "Let's not let perfection get in the way of progress."
Despite acknowledging areas of disagreement, Garlinghouse confirmed Ripple's support for the CLARITY Act due to its ongoing legal battle with the US Securities and Exchange Commission (SEC). He noted that the company, which advocates for the industry's success, is keen on seeing the bill passed. "We want the industry to do well," he added, "and so we have been big advocates of getting this passed." Garlinghouse concluded by stating his confidence in a 80% probability of the Act being signed into law by the end of April.
According to sources, a meeting concerning the CLARITY Act is expected to take place at the White House in the near future, with the aim of facilitating further discussions among parties to help reach an agreement.
Stablecoin Yield Provision Compromise Sparks Uncertainty: The CLARITY Act, a controversial legislative proposal, holds a 55% likelihood of passage in 2026, according to Polymarket data, despite Ripple CEO Brad Garlinghouse's optimistic stance. However, the broader crypto market has seen a downturn following his comments, with Bitcoin (BTC) shedding 6% of its market capitalization over the last seven days to trade at $64,219. Ethereum (ETH), despite Harvard University's recent purchase, remains below the $2,000 mark. Other altcoins such as XRP and BNB have also experienced declines, with losses of nearly 3% on a 24-hour basis. At press time, the global cryptocurrency market capitalization stands at $2.22 trillion, while daily trading volume is recorded at $111 billion, marking a 2% increase over the previous day.
Source: Read Original Article
Post a Comment