Ripple CEO urges Senate to pass CLARITY Act amid bank resistance, supports multi-chain crypto future.

Ripple CEO Brad Garlinghouse emphasized the urgent need for the Senate to hold a hearing on the CLARITY Act within the next two weeks to secure permanent, crypto-friendly regulations. The bill faces opposition from bank lobbyists despite a recent compromise on stablecoin yield rules. Garlinghouse highlighted the importance of codifying crypto policies into law to avoid future regulatory reversals and rejected the idea of crypto tribalism, supporting the success of multiple blockchains including Bitcoin. He also predicted the stablecoin market will grow to $3 trillion by 2031, noting Ripple's launch of its own stablecoin RLUSD in 2024.