Ripple’s CEO, Brad Garlinghouse, continues to push for the CLARITY Act’s approval, setting a new target of late May after previous deadlines slipped. Speaking at the XRP Las Vegas event on April 30, he expressed confidence that the legislation will pass before the Memorial Day recess on May 21. This marks his third public timeline since February, when he gave an 80% chance of passage by April during a Fox Business interview. Subsequent predictions shifted to May at the FII Priority Miami Summit and the Semafor World Economy Summit.
The primary hurdle has been a dispute over stablecoin yields, which stalled the bill since January. Garlinghouse now says this issue is nearly resolved, citing a White House Council of Economic Advisers report that estimated a full yield ban would cost consumers $800 million annually. He believes the growing frustration in Washington is a sign that compromise is imminent. Senator Thom Tillis has confirmed plans to request a markup from Banking Committee Chairman Tim Scott when the Senate returns on May 11, making that week the earliest possible committee vote.
The bill’s support has expanded to over 120 firms, including major players like Ripple, Coinbase, Kraken, and Andreessen Horowitz. These companies sent a joint letter on April 23 demanding immediate action. Senators Cynthia Lummis and Bernie Moreno have framed this as a critical window, warning that failure to pass the CLARITY Act could delay any similar legislation until at least 2030 due to the rare alignment of the House, Senate, and White House on crypto issues. Despite the optimistic outlook, market odds remain lower: Polymarket prices 2026 passage at about 46%, Galaxy Research sees a 50-50 chance, and TD Cowen assigns a one-in-three probability, making Garlinghouse’s May deadline a notably bullish stance.