The post Brad Garlinghouse Says Crypto Regulation Is “Closer Than Ever” as Senate Votes on CLARITY Act appeared first on Coinpedia Fintech News
The U.S. crypto industry is heading into one of its biggest regulatory moments yet as the Senate Banking Committee prepares to vote Thursday on the CLARITY Act, a major crypto market structure bill designed to finally bring clear rules to digital assets after years of uncertainty between the SEC and CFTC.
The legislation would define which crypto assets qualify as securities and which fall under commodities regulation, while also setting compliance rules for exchanges, brokers, dealers, stablecoins, and self-custody protections. The bill also includes anti-money laundering requirements and new oversight for Bitcoin ATMs.
Amid the growing momentum, Brad Garlinghouse said the industry is now “as close to the finish line as we’ve ever been.”
“There’s actually a markup scheduled out of the Senate Banking Committee tomorrow morning,” Garlinghouse explained. “That is something we really haven’t been this far along.”
Ripple CEO Sees Major Shift in Washington
For many in crypto, Garlinghouse’s comments carry weight after Ripple spent nearly four years fighting the SEC in one of the industry’s most closely watched legal battles.
According to him, the political environment around crypto has changed dramatically compared to previous years.
“The shift from the Biden administration to the current administration has been a dramatic positive shift for the industry,” he said.
Garlinghouse also revealed the industry nearly reached a breakthrough earlier this year before negotiations reportedly stalled after Coinbase raised concerns and stepped away from talks publicly.
“When you create a vacuum in Washington, it gets filled,” he said, noting that banking groups and other industries quickly pushed their own concerns into the discussion afterward.
Industry Heavyweights Rally Behind the Bill
Despite political debates continuing around conflict-of-interest amendments tied to crypto businesses and government officials, support for the bill across the industry remains strong.
White House crypto advisor David Sacks called the markup “a monumental step in making the U.S. the Crypto Capital of the World.”
Meanwhile, Brian Armstrong described the bill as “strong,” saying it could make the U.S. financial system “faster, cheaper and more accessible.”
Marc Andreessen also backed the legislation publicly, while Charles Hoskinson called the latest draft a “massive improvement” compared to earlier versions.
Trump Signature Could Arrive Before Summer Ends
The bill will still need 60 Senate votes before advancing further, meaning bipartisan support remains critical.
Still, Garlinghouse feels that there is some positive movement and it’s finally building after years of delays.
“I think these prediction markets have the likelihood of around 70% of this passing this year,” he said.
Most importantly, he hinted that President Donald Trump could potentially sign major crypto legislation before the end of summer if progress continues.
