Key Takeaways
- Brad Garlinghouse of Ripple predicts the CLARITY Act may become law before June
- Brian Armstrong of Coinbase has shifted position and now endorses the legislation
- Stablecoin yield provisions remain the primary area of negotiation between traditional banks and digital asset companies
- Senator Thom Tillis is expected to publish a stablecoin yield compromise proposal soon
- The Senate Agriculture Committee has completed its review; the Banking Committee vote remains pending
Momentum is building for the CLARITY Act as prominent cryptocurrency industry executives signal their support for the pending legislation.
During his appearance at the Semafor World Economy Summit on April 13, Ripple CEO Brad Garlinghouse shared optimism about ongoing discussions between traditional financial institutions and cryptocurrency platforms regarding stablecoin yield arrangements.
“When people are at their peak frustration, that’s when they finally compromise, and it gets done,” Garlinghouse said. “I think we’re there.”
🚨 JUST IN: #Ripple CEO @bgarlinghouse says he’s still optimistic on the CLARITY Act at Semafor World Economy.
“When people are at their peak frustration, that’s when they finally compromise and it gets done. I think we’re there.” pic.twitter.com/mTGjxLvkJt
— RippleXity (@RippleXity) April 14, 2026
Garlinghouse anticipates the legislation will receive approval before June arrives. This timeline represents a modest adjustment from his previous forecast targeting an April completion.
Coinbase CEO Brian Armstrong publicly endorsed the bill during the past week. He announced on X that the revised legislation has sufficient strength to advance. This marks a significant change from his stance during January and March, when he withdrew support ahead of a crucial Senate Banking Committee session.
Armstrong had previously expressed reservations about limitations on stablecoin yields and regulations concerning tokenized securities. He indicated that recent discussions have resolved these matters.
Current Legislative Status
The House approved the CLARITY Act during July 2025. Senate advancement has encountered delays stemming from disputes between banking institutions and digital asset companies.
The Senate Agriculture Committee completed its evaluation of the bill during January. The Senate Banking Committee has yet to schedule its markup session. This session must occur before the complete Senate can consider the legislation.
Paul Grewal, Coinbase’s Chief Legal Officer, stated that legislators are approaching a final resolution. Senator Thom Tillis may unveil a draft stablecoin yield settlement within days.
The legislation divides cryptocurrency regulation between securities authorities and commodities regulators. This structure requires two Senate committees to reach consensus before proceeding.
Stablecoin Yield Provisions Drive Negotiations
The central point of contention involves whether digital asset platforms may provide yields on stablecoins.
Traditional banking institutions contend that permitting stablecoin yields would divert deposits from conventional banks, particularly affecting smaller community financial institutions.
White House analysis examined this matter and determined the deposit migration concern is “quantitatively small.” The research also calculated that completely prohibiting stablecoin yields might cost American consumers $800 million annually.
The American Bankers Association responded by stating the White House research addressed the incorrect concerns.
Treasury Secretary Scott Bessent encouraged Congressional action on the bill. He emphasized that the window for establishing clear regulatory frameworks for the cryptocurrency sector is closing.
Donald Trump has similarly advocated for accelerated progress on digital asset regulation. Media reports indicate Armstrong held discussions with Trump prior to publicly supporting the legislation.
A proposed settlement on yield-related provisions has advanced the discussions. The Senate is scheduled to continue CLARITY Act deliberations during the coming days.
