Garlinghouse Raises Probability of Market Structure Bill Passing in April to 90%

▲ Cryptocurrency Regulation

Ripple CEO Brad Garlinghouse predicted a 90% chance that the U.S. cryptocurrency market structure bill, known as the CLARITY Act, which includes clear regulatory guidelines for the U.S. digital asset market, will pass by the end of April, signaling a potential shift in the market landscape.

According to crypto-focused media outlet CoinGape on Feb. 21 (local time), Garlinghouse said in a recent interview with Fox Business that the White House is strongly pushing to finalize the legislation and has set March 1 as the deadline for negotiations. In particular, high-level talks are ongoing to resolve disagreements between the banking sector and the crypto industry over stablecoin provisions, and he assessed that Washington is entering a phase of breaking its legislative gridlock. “Perfection must not be the enemy of progress,” Garlinghouse said, emphasizing that the industry can no longer be left in a regulatory vacuum.

The U.S. cryptocurrency market structure bill centers on clearly dividing regulatory authority between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). If passed, it would eliminate the ambiguous regulatory boundaries that have discouraged institutional investors, creating a legal foundation for significant inflows of traditionally conservative institutional capital. Garlinghouse stressed that granting major cryptocurrencies, including XRP, a clear legal status within the institutional framework is the final piece of the puzzle for institutional adoption.

Ripple has been preparing for post-legislation market changes since 2023, investing $3 billion in mergers and acquisitions to strengthen its custody and treasury infrastructure. Garlinghouse projected that once federal-level guidelines are established, corporate treasurers will more actively utilize stablecoins and cross-border payment utilities. The CLARITY Act has already secured overwhelming bipartisan support in the House, passing 294 to 134, and discussions are advancing in the Senate, making its passage highly likely.

If the legislation is finalized as scheduled in April, the digital asset market is expected to shed the shackles of regulatory uncertainty and experience a strong rebound momentum, with capital rotating toward major coins that have demonstrated real utility. Experts analyze that lawmakers’ push to deliver tangible results ahead of the 2026 midterm elections will serve as a key driver accelerating the bill’s passage. Major digital asset companies, including Ripple, are closely watching Washington’s final decision as they prepare for a new leap forward through enhanced regulatory clarity.

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