Brad Garlinghouse says Clarity Act faces crucial next two weeks
Updated
Updated · CoinDesk · May 5
Brad Garlinghouse says Clarity Act faces crucial next two weeks
16 articles · Updated · CoinDesk · May 5
Speaking at Consensus 2026 in Miami Beach, he said the bill needs a Senate Banking Committee hearing this month or its chances will drop sharply.
A new compromise on stablecoin yield could unlock the hearing, though banking groups say the proposal still falls short and lobbyists remain resistant.
Garlinghouse said legislation is needed to lock in crypto-friendly SEC policies under Chairman Paul Atkins, and predicted the stablecoin market could reach $3 trillion by 2031.
With a predicted $3 trillion stablecoin market, how will U.S. regulations reinforce or challenge the dollar's global dominance?
If the CLARITY Act passes, which crypto innovations might thrive under legal certainty, and which could be left behind?
May 11 Senate Vote: The Critical Deadline for Passing the CLARITY Act and Shaping U.S. Crypto Regulation
Overview
The CLARITY Act faces a critical May 11, 2026 Senate Banking Committee markup vote that will determine if the bill advances or is derailed. A recent bipartisan compromise on stablecoin yields, which bans interest-like rewards but allows activity-based incentives, cleared a major hurdle and boosted optimism for passage. However, intense opposition from traditional banks and unresolved issues like DeFi regulation threaten progress. The compressed legislative calendar due to the 2026 midterm elections leaves a narrow window for approval. Success would bring regulatory clarity and innovation, while failure risks prolonged uncertainty and stalled U.S. leadership in digital assets.