Brad Garlinghouse does not mince words. The Ripple CEO made that clear again on Tuesday, telling a packed audience at Consensus 2026 in Miami Beach that the Clarity Act is not perfect, but it is necessary.
"Do I think it's perfect? Hell, no," Garlinghouse said. "There's tradeoffs and compromises, but I do think clarity is better than chaos."
It was a blunt but honest take from one of crypto's most outspoken figures, and the timing could not be more critical.
A Bill on the Edge
Garlinghouse said the Clarity Act's survival now depends on the next two weeks. The market structure bill is awaiting the scheduling of a Senate Banking Committee hearing, though bank lobbyists are still dragging their feet.
"If it doesn't happen then, I think the likelihood is going to drop precipitously," he said, though he added that he still believes passage is the more likely outcome.
Garlinghouse described the past week as a "big positive shift," pointing to growing political support and a clearer legislative path. He noted that a committee markup, while not formally scheduled, could take place as early as mid‑May. If the bill clears that stage, he said the probability of securing bipartisan backing on the Senate floor increases significantly.
Why This Bill Matters Beyond the Headlines
For Garlinghouse, the Clarity Act is not just a policy win on paper. It is about making progress permanent.
He pointed to the importance of locking in the crypto‑friendly policies already being put in place by SEC Chairman Paul Atkins, who replaced the crypto‑resistant Gary Gensler. Without a law, Atkins' successor can simply reverse everything. "There will be another Paul Atkins after Paul who we don't know which side of this argument they're going to fall on," Garlinghouse said.
That is the core of his argument. Friendly regulators come and go. Laws do not.
The Stablecoin Compromise and Industry Pushback
The Clarity Act also covers stablecoins, and that has been a sticking point.
The stablecoin compromise aims to allow crypto firms to pursue certain rewards programmes without offering yield‑bearing stablecoin accounts that resemble bank interest‑bearing deposits. Crypto insiders have largely accepted the deal, but a coalition of banking groups said this week that the arrangement falls short.
Still, Garlinghouse is urging the industry to stay at the table rather than walk away. His message is simple: a flawed law beats no law.this
Stablecoins: A $3 Trillion Vision
Away from the legislative debate, Garlinghouse shared a bold outlook for the stablecoin market.
He predicted that the stablecoin market will reach $3 trillion by 2031. The current market sits at around $320 billion, led by Tether's USDT. Ripple launched its own stablecoin, RLUSD, in 2024.
That is nearly a ten‑fold increase from where things stand today, a signal of just how big Garlinghouse believes this space can get if the right rules are put in place.
The Clock Is Ticking
Senator Bill Hagerty has indicated that the bill could be reviewed this week. However, failure to advance it in time may prevent it from reaching a full Senate vote.
The industry is watching closely. For Garlinghouse, the message is the same one he has been repeating all year. The window is open. The moment is now. And imperfect progress will always beat perfect inaction.
