Ripple CEO Hints Crypto Bill Is Near Deal, Sets April as Approval Timeline

Ripple CEO Brad Garlinghouse has shared that the crypto market bill is really close to resolution after more talks between banks and crypto firms. The CEO went ahead to set April as the most likely time of the CLARITY Act bill passage.

Crypto Bill Could Pass in April, Ripple CEO Says

Ripple CEO Brad Garlinghouse has said that there is an 80% chance that the CLARITY Act will be passed by the end of April. Garlinghouse called on the industry to take a compromise solution rather than waiting for the perfect bill.

This comes as the stalemate in the Senate Banking Committee draft has persisted since January. This was just before the bill was set to be passed. Coinbase, the leading US exchange, famously pulled its support for the crucial legislation. They were unable to reach an acceptable compromise on stablecoin yield.

Ripple’s CLO, Stuart Alderoty, also said after the last crypto bill meeting that the industry could soon see progress as crypto firms and banks continue their negotiations.

In the new interview, Garlinghouse highlighted how the crypto bill was close to passage before it was subdued. He said this would have been a huge positive development for the crypto space.

“I think that it is so clear that clarity is better than chaos. The CLARITY Act, as written, is not perfect…There’s things I don’t love about it. Let’s not let perfection get in the way of progress,” he said.

Meanwhile, the White House has set a February deadline for the crypto and banking industry leaders to reach a deal on the stablecoin yield provision on the crypto bill, which supports the Ripple CEO’s timeline.

CLARITY Act Meeting Continues this Week

As CoinGape reported, another White House meeting is set to be held later this week. They aim to resume talks on the legislation. Polymarket traders have begun to price in the possible outcome of this meeting. Odds now sit at about 60% of passage.

This was also in response to the Digital Chamber’s proposal on an amendment to the crypto bill. The Senate Banking Committee had characterized the principles as constructive. However, they warned that some of the proposals may be too broad to gain the support of the banks.

The developments around this are particularly important for the crypto market, which has continued its bearish downtrend. Many experts have projected a return of massive liquidity in the crypto space if a resolution is reached on the matter.