The bill would clarify which digital assets fall under securities law versus Commodity Futures Trading Commission oversight.
Updated Feb 20, 2026, 7:16 a.m. Published Feb 20, 2026, 7:05 a.m.
Ripple CEO Brad Garlinghouse said he now sees a 90% chance that the long-debated Clarity Act will pass by the end of April, signaling growing confidence inside the crypto industry that U.S. lawmakers may finally deliver long-sought regulatory certainty.
Speaking on Fox Business, Garlinghouse said momentum has accelerated following renewed engagement from lawmakers and the White House. He described recent meetings in Washington that included leaders from both crypto and traditional banking, suggesting political appetite to move legislation forward has strengthened after months of delays.
The Clarity Act is designed to define which digital assets fall under securities laws and which would be overseen by the Commodity Futures Trading Commission. The bill has faced friction over stablecoin reward provisions and whether crypto platforms should be allowed to offer yield-like incentives to customers. The White House has reportedly set a March 1 target to push negotiations forward.
Garlinghouse framed the bill as imperfect but necessary. Ripple, he noted, secured a federal court ruling that XRP is not a security, giving the company clarity that much of the industry still lacks.
“The industry can’t live in limbo,” he said, arguing that regulatory uncertainty has weighed on innovation and market sentiment.
His comments come amid a broader crypto pullback and renewed volatility across digital assets. While bitcoin and other tokens have struggled in recent weeks, Garlinghouse said Ripple continues to see growing interest from corporate treasurers and financial institutions exploring stablecoins, liquidity management, and cross-border payments.
Ripple has spent nearly $3 billion on acquisitions since 2023, expanding into custody, prime brokerage, and treasury management. Garlinghouse said the company will pause on major deals in the near term to focus on integration.
Beyond crypto-native firms, he noted that traditional financial players increasingly want clearer rules to compete on equal footing. That shift, he suggested, reflects the dramatic change in attitudes toward digital assets over the past few years.
If the Clarity Act advances, it could mark one of the most significant legislative milestones for the U.S. crypto sector to date.
Polymarket bettors are giving the bill an 82% chance of passing by the end of the year.
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Inside the meeting: White House favors some stablecoin rewards, tells banks it's time to move
Sources familiar with the talks on stablecoin yields say the White House urged bankers to get on board with a deal that lets the market structure bill advance.
What to know:
- The White House negotiators at the latest meeting urged bankers to allow for limited stablecoin rewards that won't threaten their deposits business, according to sources familiar with the talks.
- The banking representatives at Thursday meeting were said to actively work on language to that end, though a final draft will still have to be circulated and weighed by the banks.
