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Home/Markets & Investing/RIPPLE XRP SEC · STABLECOIN US LEGISLATION

The CLARITY Act Codification Is the Only Hedge Against Regulatory Reversal

ER

Emerson Ravenscroft

Ripple XRP SEC · Apr 14, 2026

The CLARITY Act Codification Is the Only Hedge Against Regulatory Reversal

Source: DojiDoji Data Terminal

A future SEC chair could reverse the current classification of major crypto assets as digital commodities. This risk exists because the March 17 joint statement from the SEC and CFTC—which classified Bitcoin, Ethereum, Ethereum, XRP, and 13 other assets as digital commodities—is an interpretive release. An interpretive release can be reversed. A law cannot.

Related Brief3h ago
cryptocurrency regulation

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.

The CLARITY Act would codify this regulatory framework into law, removing the possibility of a future administration returning to what Ripple CEO Brad Garlinghouse calls an "unlawful war on crypto."

Related Brief7h ago
crypto regulation

Stablecoin reward rules will determine the CLARITY Act's final passage

Community banks' local lending capacity could be significantly damaged if the CLARITY Act is passed with provisions allowing stablecoin rewards. The American Bankers Association warns that reward-bearing stablecoins would accelerate deposit outflows from the banking sector. This risk is the primary sticking point in the U.S. Congress's debate over the CLARITY Act crypto market structure bill. The bill's current regulatory plan bans stablecoin issuers from directly paying interest to holders. The American Bankers Association estimates that in the reduction in lending due to deposit shifts could reach as much as $8.7 billion in Iowa alone.

Senator Bernie Moreno has warned that if the bill does not reach the Senate floor by May, midterm politics will effectively shelve it for the rest of 2026.

Related Brief23h ago
digital asset legislation

The May 2026 Senate Deadline for the CLARITY Act Risks a Four-Year Regulatory Void

U.S.-based crypto firms continue relocating to jurisdictions with defined rules, including Singapore and Abu Dhabi, to avoid years of regulatory ambiguity. The CLARITY Act aims to end this migration by assigning jurisdictional boundaries between the SEC and other agencies for digital assets. The bill passed the House in July 2025 but has since remained stalled in the Senate Banking Committee. The holdup centers on whether stablecoin issuers can offer yield to users. While crypto firms argue the feature is essential for competition, traditional banks contend it blurs the line between deposits and securities. The Senate Banking Committee has not yet scheduled a markup hearing. Senator Cynthia Lummis warned that if the bill does not advance by May 2026, the 2026 midterm election cycle will shift congressional focus from policy to campaigning. Legislative momentum for federal crypto regulation may not return until at least 2030.

Ripple XRP SECstablecoin US legislation

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