Ripple and Coinbase CEOs Back CLARITY Act as Senate Vote Nears

Crypto leaders say compromise on stablecoin yields could unlock long-awaited Senate vote on digital asset regulations.

Apr. 14, 2026 at 7:12am

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An extreme close-up of a series of gears, levers, and other heavy industrial banking mechanisms, dramatically lit to create a sense of power and security.As lawmakers and industry leaders negotiate the details of crypto regulation, the complex financial infrastructure that underpins the digital asset ecosystem comes into focus.Washington Today

The CLARITY Act, a major cryptocurrency regulatory bill, is gaining momentum in the Senate as the CEOs of Ripple and Coinbase have both voiced support for the legislation. Ripple's Brad Garlinghouse expects the bill to pass by the end of May, while Coinbase's Brian Armstrong has reversed his previous opposition. The main sticking point has been disagreements between banks and crypto firms over stablecoin yield restrictions, but negotiators are reportedly close to a compromise. The Senate is expected to resume discussions on the CLARITY Act this week.

Why it matters

The CLARITY Act would provide much-needed regulatory clarity for the cryptocurrency industry, which has long operated in a legal gray area. Passage of the bill could unlock further growth and innovation in the crypto sector by establishing clear rules of the road. It would also give consumers more confidence and protection when using digital assets.

The details

The CLARITY Act would split crypto oversight between securities and commodities regulators, requiring alignment between the Senate Agriculture Committee and Senate Banking Committee before the full Senate can vote. The biggest dispute has been over whether crypto platforms can offer yields on stablecoins, with banks arguing this could pull deposits away from traditional banks. However, a White House study found the deposit flight risk is 'quantitatively small' and estimated a full ban on stablecoin yields could cost consumers $800 million per year. Negotiators are now close to a compromise on the yield provisions.

  • The House passed the CLARITY Act in July 2025.
  • The Senate Agriculture Committee approved its portion of the bill in January 2026.
  • Ripple CEO Brad Garlinghouse expects the bill to pass by the end of May 2026.
  • Senator Thom Tillis may release a draft stablecoin yield compromise this week.

The players

Brad Garlinghouse

The CEO of Ripple, a leading cryptocurrency company.

Brian Armstrong

The CEO of Coinbase, one of the largest cryptocurrency exchanges.

Thom Tillis

A U.S. Senator who may release a draft compromise on stablecoin yield rules this week.

Scott Bessent

The U.S. Treasury Secretary, who has urged Congress to pass the CLARITY Act.

Donald Trump

The former U.S. President, who has called for faster movement on crypto regulation.

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What they’re saying

“'When people are at their peak frustration, that's when they finally compromise, and it gets done. I think we're there.'”

— Brad Garlinghouse, CEO, Ripple

“The updated bill is strong enough to pass.”

— Brian Armstrong, CEO, Coinbase

What’s next

Senator Thom Tillis may release a draft stablecoin yield compromise this week, which could help unlock a Senate vote on the CLARITY Act.

The takeaway

The CLARITY Act's progress in the Senate represents a significant step forward in providing much-needed regulatory clarity for the cryptocurrency industry. The compromise on stablecoin yield rules is a key development that could pave the way for the bill's passage, which would give consumers more confidence and protection when using digital assets.