CLARITY Act Window is Now Open: Ripple CEO Brad Garlinghouse

• The CLARITY Act window is open, says Ripple’s Brad Garlinghouse, post-Washington meetings.
• Stablecoin yield remains the only major blocker since January, with lawmakers split.
• Senator Thom Tillis draft compromise is expected this week, banning passive yield.

Ripple CEO Brad Garlinghouse says the window for the CLARITY Act is now open after direct meetings in Washington with key senators and White House officials.

This comes after months of stalled progress. Talks with lawmakers, including Bill Hagerty, Bernie Moreno, Tim Scott, and John Boozman, point to growing support behind the bill.

While celebrating 11 years at Ripple, Garlinghouse said that the industry is closer than ever to regulatory clarity. The tone changed after the Senate returned from Easter recess, and negotiations resumed at a pace.

The CLARITY Act is designed to split crypto oversight between the SEC and CFTC. Securities fall under the SEC, while commodities fall under the CFTC. The bill removes the legal grey zone that has driven enforcement-first regulation for years.

Timeline Slips, But Support Builds

Notably, the timeline has been revised multiple times. In February, Garlinghouse said April, which failed, and he now points to the end of May as the realistic target. 

The delay comes from one issue, i.e., stablecoin yield. Banks oppose interest-like rewards on stablecoins, and crypto firms support them. This single conflict has blocked the bill since January.

A draft compromise led by Senator Thom Tillis is expected this week. The proposal bans passive yield but allows rewards tied to activity. If accepted, the Senate Banking Committee can finally schedule a vote, likely in the last week of April.

Despite delays, Coinbase CEO Brian Armstrong reversed his stance and backed the bill on April 9. The US Treasury and SEC leadership also indicated support within the same window.

Odds, Risks, and Political Clock

Garlinghouse earlier placed 80-90% odds on passage. However, Ron Hammond, Head of Policy at market maker Wintermute, puts the odds of the CLARITY Act passing in 2026 at just 30%. The gap comes from political friction and limited time.

If the bill does not reach the Senate floor by May, it risks getting pushed out. The midterm election focus begins in the summer, and bills without urgent voter impact lose priority. 

Attorney John Deaton warned that a delay into the summer will likely kill the bill for 2026. Senator Bernie Moreno and Cynthia Lummis also shared similar thoughts, stating that the timeline is tight.

The process still requires multiple steps, including committee approval, a 60-vote Senate floor pass, reconciliation with House and Agriculture Committee versions, and final presidential approval.

Related: CLARITY Act Gains Backing From Crypto’s Biggest Voices