Brad Garlinghouse: May 21 could decide crypto’s rules until 2030
At $BTC Las Vegas (Apr 30), the Ripple CEO warned: if the CLARITY Act doesn’t pass the Senate Banking Committee before the May 21 Memorial Day recess, the bill could be shelved until 2030.
Why? The current alignment between House, Senate, and White House on crypto is rare - and may not survive the midterms.
What must happen in ~8 working days (May 11–21):
Banking Committee markup
Committee vote
60-vote Senate floor passage
Reconcile Banking vs Agriculture versions
Reconcile with the July 2025 House text → signature
Backers include Coinbase, Kraken, Circle, a16z, with public support from the White House, SEC Chair, and Treasury. Senators Cynthia Lummis and Bernie Moreno say: miss 2026, next window ≈ 2030. Senator Thom Tillis plans to push Chairman Tim Scott for a markup when the Senate returns May 11.
For $XRP and the broader market, May 21 it’s a legislative cliff.