CLARITY Act Window Opens: Senate Push Looms for Stablecoin Yield Rules
Ripple CEO Brad Garlinghouse says the CLARITY Act window is open and the U.S. industry is closer than ever to durable crypto regulation. He points to rising legislative momentum, including meetings with Sen. Bill Hagerty, Sen. Bernie Moreno, Sen. Tim Scott, and Sen. John Boozman, plus participation at the Semafor World Economic Summit.
After the CLARITY Act passed the House in July 2025, lawmakers returned April 13. The Senate Banking Committee—chaired by Tim Scott—reportedly targets a markup in the final two weeks of April. If the bill misses May, Moreno suggests it could slip until after the 2026 midterms.
Garlinghouse highlights a key shift: SEC–CFTC coordination. Still, regulatory risk remains unless Congress codifies clear standards. He specifically flags stablecoin yield provisions, where an “agreement in principle” would limit passive yield while allowing activity-based rewards. Coinbase CEO Brian Armstrong also backs the bill.
For traders, the near-term focus is CLARITY Act Senate progress, especially around stablecoin yield rules, which could change expectations for enforcement, market structure, and sentiment toward regulated tokens like XRP.
Neutral
Bullish catalysts exist because the CLARITY Act could reduce regulatory ambiguity, and Garlinghouse specifically frames a workable approach to stablecoin yield that may lower compliance risk for regulated tokens like XRP. Coinbase’s support also removes an industry obstacle.
However, this is not a clean “go” signal yet. The timeline is still uncertain (markup targeted for late April, with a possible slip beyond May), and the bill’s final details—especially around stablecoin yield standards—could still change. SEC–CFTC coordination helps, but it does not replace the need for congressionally codified rules.
Net effect: headline momentum may support sentiment intraday, but the remaining timeline and legislative-detail risk keeps the expected price impact on XRP mixed in both the short and long run.