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Home/Markets & Investing/RIPPLE XRP SEC · CRYPTO REGULATION BILL

Crypto Market Structure Legislation Faces a Summer Deadline

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Noa Ashworth

Ripple XRP SEC · Apr 15, 2026

Crypto Market Structure Legislation Faces a Summer Deadline

Source: DojiDoji Data Terminal

Digital assets currently operate in a regulatory grey zone where regulators use enforcement actions rather than written rules. The CLARITY Act seeks to change this by establishing clear rules to distinguish whether a digital asset is a security or a commodity.

Related Brief22h ago
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A stablecoin yield compromise could save consumers $800 million annually

Consumers could lose $800 million per year if a full ban on stablecoin yields is enacted. The White House estimated this cost to the public in a study on deposit flight risk to traditional banks. The American Bankers Association argued that allowing yields on stablecoins would pull deposits away from smaller community banks. This dispute over yield provisions has been the primary sticking point for the Senate. The House passed the CLARITY Act in July 2025, and the Senate Agriculture Committee approved its portion of the bill in January. To move forward, the Senate Banking Committee must schedule a markup vote. Only after that vote can the full Senate vote on the bill. Ripple CEO Brad Garlinghouse expects the bill to pass by the end of May.

Ripple CEO Brad Garlinghouse recently met with Senators Hagerty, Bernie Moreno, Tim Scott, John Boozman, and Patrick Witt to advocate for the bill's passage. Senator Hagerty, a key champion of the legislation, stated that the bill could clear the Banking Committee and reach the full Senate floor before the end of April.

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White House Signals Finality on CLARITY Act Crypto Regulation

The Senate floor is expected to hold a vote on the CLARITY Act by late May. This follows the expected release of an updated stablecoin yield compromise draft by Senator Thom Tillis this week. The White House crypto adviser, Patrick Witt, stated that negotiations have cleared most remaining obstacles, including the DeFi rules and ethics provisions that had previously been viewed as intractable. The stablecoin yield dispute, which dominated headlines for three months, is largely settled under the Tillis-Alsobrooks framework. The bill cleared the House in July 2025 by a 294 to 134 vote and the Senate Agriculture Committee in January 2026. The Banking Committee must now set a markup date. Following the committee vote, the Banking and Agriculture Committee versions must be reconciled, and the combined Senate text must be reconciled with the House version before a presidential signature. The CLARITY Act becomes law after reconciliation and presidential signature.

However, the legislative timeline is tight. No confirmed markup session is scheduled for the Senate Banking Committee next week, shifting the next realistic window for progress to the week of April 27.

Related Brief3h ago
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Stablecoin yield rules will determine if digital asset platforms can offer rewards on holdings

Digital asset platforms may be prohibited from offering yield or rewards on stablecoin holdings depending on the outcome of a draft agreement being released this week by Senator Thom Tillis. The draft is part of the CLARITY Act, which aims to resolve a conflict between banks and crypto firms. Banks argue that yield-bearing tools create a potential danger to savings, while cryptocurrency firms maintain that the industry cannot prosper without them. Senator Bill Hagerty confirmed the bill will go before the Senate Banking Committee this week. If the CLARITY Act does not move forward by the end of April, it may not reach a full Senate vote.

If the bill stalls into summer, senators typically shift their focus toward midterm election positioning, which often results in the shelving of legislation lacking broad bipartisan urgency. Ron Hammond, Head of Policy at market maker Wintermute, puts the odds of the bill passing in 2026 at 30%. Attorney John Deaton warns that if the bill stalls until summer, the window for passage does not just narrow; it closes.

Related BriefJust now
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Even Partial Crypto Clarity Could Unlock Institutional Capital, Ripple CEO Says

Even partial regulatory clarity could unlock institutional capital into digital assets, Ripple CEO Brad Garlinghouse says, as momentum builds in Washington for the CLARITY Act. While Garlinghouse has cooled his earlier optimism about the bill’s immediate passage, he insists negotiations are nearing resolution—pointing to increased coordination between the SEC and CFTC as evidence that a unified framework is becoming inevitable. His view reflects a broader industry shift: accepting incremental progress over continued ambiguity. Lawmakers including Bill Hagerty suggest the bill could advance through the Senate Banking Committee as early as April 2026. Scott Bessent has also urged Congress to accelerate legislative efforts. For firms like Ripple, the stakes are high. Exchanges such as Bitrue believe XRP could benefit directly from improved legal certainty. With institutional investors prioritizing compliance, even a partial framework could strengthen the legal standing of digital assets and trigger broader market adoption.

Ripple XRP SECcrypto regulation billstablecoin US legislation

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