Ripple CEO Predicts Crypto Market Structure Bill Will Pass Despite Coinbase

Ripple CEO Brad Garlinghouse says a key U.S. crypto market structure bill, the CLARITY Act, will ultimately pass into law, despite public opposition from Coinbase. The Senate compromise version includes a contentious ban on paying interest on stablecoin balances. Garlinghouse suggested Ripple is not a “leading force” in this fight, positioning the firm more as an observer, while arguing legislative momentum is building from industry and regulator “fatigue” after nearly a decade of patchwork rules. Coinbase strongly opposes the stablecoin interest ban, saying it could harm consumers and stifle innovation and directly challenges its interest-bearing stablecoin products. Garlinghouse cited political factors in Washington: multiple committee hearings over the past three years, bipartisan interest in passing before the next election cycle, and pressure from faster-moving regulators abroad (EU/UK) to keep the U.S. competitive. Next steps are expected to include committee markups and amendments, with the stablecoin provision remaining the most contentious point. Some lawmakers have floated alternatives such as a licensed framework for interest-bearing stablecoin products instead of an outright ban. Market reaction was reportedly muted, suggesting traders are waiting for further legislative detail. The outcome will shape U.S. rules for exchanges, custody, and token classification.