Summary
- Ripple CEO Brad Garlinghouse said the next two weeks will be critical in determining whether the US crypto market structure bill, the CLARITY Act, passes.
- He said the bill's odds of passage could fall sharply if the Senate Banking Committee does not proceed with a markup.
- The market is watching how the legislative timetable and the course of congressional deliberations could affect the crypto regulatory environment and industry growth.
Forecast Trend Report by Period
Ripple Chief Executive Officer Brad Garlinghouse stressed the importance of the legislative timetable for the CLARITY Act, a US crypto market structure bill, as attention turns to its prospects in Congress.
Garlinghouse told CoinDesk on May 5 that the next two weeks will be critical in determining whether the CLARITY Act passes.
He said the bill's odds of passage could fall sharply if the Senate Banking Committee does not proceed with a markup.
If debate on the measure slips into the midterm election period, it could become more politically sensitive, he added.
"Clarity is better than confusion," Garlinghouse said, underscoring the need for market structure legislation.
Market participants are focused on how the legislative timetable and the course of congressional deliberations could affect the crypto regulatory environment and industry growth.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
