Summary
- Brad Garlinghouse, Ripple's chief executive officer, said the next two weeks will be decisive in determining whether the CLARITY Act passes.
- He said the bill's chances of passage could fall sharply if the Senate Banking Committee does not proceed with a markup.
- The market is watching how the legislative timetable could affect the crypto regulatory environment and industry growth.
Forecast Trend Report by Period
Ripple Chief Executive Officer Brad Garlinghouse emphasized the importance of the timeline for the CLARITY Act, a US crypto market structure bill, as attention centers on its path through Congress.
Garlinghouse said the next two weeks will be decisive in determining whether the CLARITY Act passes, CoinDesk reported on May 5.
If the Senate Banking Committee does not proceed with a markup, the bill's chances of passage could fall sharply, he said.
He added that if the debate extends into the midterm election season, the issue could become more politically sensitive.
"Clarity is better than confusion," Garlinghouse said, underscoring the need for market structure legislation.
Market participants are watching how the legislative timetable could affect the crypto regulatory environment and industry growth. Whether Congress moves forward with deliberations is a key variable.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
