Despite a recent compromise on stablecoin yield, Ripple CEO Brad Garlinghouse emphasized that the digital asset market structure bill known as the CLARITY Act is not guaranteed to pass. Speaking at the Consensus crypto conference in Miami on May 5, 2026, he highlighted that the next two weeks will be critical for the bill's prospects.
Garlinghouse stated that if the bill does not receive attention soon, its chances of success could diminish significantly. He pointed out that ongoing campaigns for the 2026 midterm elections pose additional challenges for the legislation. The CEO described the current situation as one where clarity is preferable to chaos, although he acknowledged that the bill is not without its imperfections.
The bill, which has been delayed partly due to discussions around stablecoins and tokenized equities, has already been advanced by the Senate Agriculture Committee. It must still receive approval from the Senate Banking Committee before progressing to a full Senate vote. Senator Cynthia Lummis reiterated the urgency for Congress to act on this issue, stating that the industry operates under significant legal uncertainty.