 ▲ The White House, Cryptocurrency Regulation, Stablecoin Bill / ChatGPT-generated image |
The head of Ripple has urged the passage of regulatory legislation that will determine the future of the U.S. digital asset industry, delivering a strong warning against entrenched interests within traditional finance.
According to crypto-focused outlet U.Today on March 3 (local time), Ripple CEO Brad Garlinghouse described President Donald Trump’s criticism of delays to the U.S. crypto market structure bill (CLARITY), in which Trump targeted banking lobbyists, as “a very sharp message.” Through his X (formerly Twitter) account, Garlinghouse emphasized that Trump’s remarks reflect a determination to protect the best interests of the American people. Trump has made clear that his plan to make the United States the crypto capital of the world should not be stalled by coordinated obstruction from major banks.
Garlinghouse argued that the absence of clear digital asset regulations in the U.S. has placed domestic companies at a structural disadvantage compared to overseas competitors. He stated that the legislation is not merely about industry growth but is an essential measure to strengthen national competitiveness and security. He projected a very high probability—between 80% and 90%—that the U.S. crypto market structure bill will pass Congress by the end of April, signaling that regulatory gridlock in Washington may soon ease.
The biggest obstacle to the bill’s passage is reportedly disagreement with the banking sector over stablecoin reward payments. While crypto exchanges such as Coinbase are seeking the right to offer rewards to stablecoin holders, groups including the American Bankers Association strongly oppose the move, arguing that it would effectively resemble unregulated bank deposits. Garlinghouse urged banks to engage in good-faith negotiations, maintaining that progress should be prioritized rather than missing opportunities while waiting for a perfect bill.
If enacted, the U.S. crypto market structure bill would clearly establish XRP and Bitcoin (BTC) as digital commodities rather than securities. Seven spot XRP ETFs are already trading in the U.S. market. With BlackRock and Fidelity leading the market, the removal of legal uncertainty is expected to accelerate large-scale institutional capital inflows. Garlinghouse explained that this legislation represents the final puzzle piece needed for mainstream capital to fully enter the sector.
Meanwhile, Ripple invested more than $2.4 billion in acquisitions throughout 2025 to accelerate ecosystem expansion. Garlinghouse expressed strong optimism for 2026, predicting that the era of regulation-by-enforcement will end and that the industry will prosper under codified law. He reiterated that Congress must act swiftly if the United States is to become a global leader in blockchain innovation.
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