Ripple CEO Predicts CLARITY Act Approval by April
- Brad Garlinghouse estimates an 80% chance of the CLARITY Act passing by the end of April.
- The Senate Banking Committee has been at a stalemate since January, delaying the bill’s progress.
- Coinbase withdrew its support due to disagreements over stablecoin yield provisions.
- The White House has set a February deadline for industry leaders to negotiate a deal on stablecoin yield.
- Ripple’s CLO, Stuart Alderoty, indicated that negotiations between crypto firms and banks are ongoing and could lead to progress.
The outcome of the CLARITY Act is critical as it may bring much-needed clarity to the crypto market, which is currently experiencing a bearish trend. A resolution could potentially unlock significant liquidity in the space.
Garlinghouse emphasizes that while the CLARITY Act is not perfect, it represents progress that should not be hindered by the pursuit of perfection. The anticipated timeline supports his assertion of an April passage.(Source)
