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▲ Brad Garlinghouse (Brad Garlinghouse), Ripple (Ripple), XRP (XRP), Cryptocurrency Regulation, Virtual Assets/ChatGPT generated image
Brad Garlinghouse, CEO of Ripple, announced that discussions on US cryptocurrency regulation are nearing a critical turning point. The cryptocurrency industry, which has been demanding a clear regulatory framework for years, is now considered closest to the 'finish line' with the progress of the US market structure bill.
U.Today reported on May 14 (local time) that Garlinghouse presented optimism about the progress of US cryptocurrency regulation at a Binance online event held on May 13. Garlinghouse participated in a panel titled 'The Age of Evolution' alongside Binance Co-CEO Richard Teng and Solana Foundation President Lily Liu.
Garlinghouse stated that the good news in the US is that the industry is closer to the finish line than ever before. He emphasized that a bill review process is scheduled before the Senate Banking Committee vote, and discussions on cryptocurrency regulation have never progressed this far.
He explained that in January, he also believed that achieving regulatory clarity was very close, but there were initial setbacks when Coinbase raised some concerns and withdrew from the discussion table. However, he assessed that the industry has fought for this moment for years, resulting in significant progress.
Garlinghouse described the current situation as “very hopeful and frankly quite optimistic.” He mentioned that positive changes have occurred in the cryptocurrency industry since the current administration took office, and based on prediction market results, he set the probability of the bill passing this year at 70%.
According to reports, after months of negotiations, the Senate Banking, Housing, and Urban Affairs Committee unveiled a 309-page amendment to the US cryptocurrency market structure bill this week and scheduled a bill review process before a vote on May 14. The new text addresses issues that stalled the bill's progress in January, while also including major changes that require careful consideration.
On Polymarket, the likelihood of the bill passing by the end of the year was reflected at approximately 67-75%. This is a significant increase from less than 50% in mid-April, suggesting that despite remaining concerns, the renewed movement in bill discussions has shifted market sentiment.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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