Ripple CEO Says Crypto Bill Has 90% Chance of Passing by April

Ripple CEO Brad Garlinghouse dropped a bombshell on February 20, telling a packed fintech conference in New York that new digital asset legislation has a “90% chance” of getting through Congress by April. The bill would finally draw clear lines between which crypto tokens get treated as securities and which ones fall under commodity rules through the CFTC.

Garlinghouse didn’t mince words at the conference, where hundreds of industry executives hung on every syllable. He’s been pushing for regulatory clarity for years, watching his company battle the SEC in court while other crypto firms fled overseas. “Clear regulations help innovation,” he said, speaking to a crowd that included executives from Goldman Sachs, JPMorgan, and dozens of crypto startups. The audience knew exactly what he meant – without clear rules, nobody knows if they’re breaking the law just by launching a new token. And that’s been killing American crypto innovation for years now.

Things are moving fast.

The proposed bill landed in Congress last month, and it’s already generating serious buzz on Capitol Hill. Right now, crypto companies can’t figure out if their tokens are securities that need SEC approval or commodities that fall under CFTC rules. It’s basically a regulatory nightmare that’s left everyone guessing. Garlinghouse has watched this confusion firsthand – Ripple’s been fighting the SEC since 2020 over whether XRP counts as a security.

“It’s critical for the U.S. to lead the way,” Garlinghouse added during his keynote speech. He pointed to countries like Singapore and Switzerland that have already built clear crypto frameworks, attracting billions in investment while American companies struggle with regulatory uncertainty. The room fell silent when he mentioned that several major U.S. crypto firms have already moved their headquarters overseas just to avoid regulatory headaches.

But the stakes go way beyond just one company’s legal troubles.

The crypto market hit $1.5 trillion in total value as of February, and that number keeps climbing. Global regulators are scrambling to keep up with the growth, but the U.S. has been stuck in neutral while other countries race ahead. If this bill passes, it would split oversight between the SEC and CFTC in a way that actually makes sense – securities stay with the SEC, while commodity-like tokens go to the CFTC. Pretty much every major crypto company has been begging for exactly that kind of clarity.

Coinbase jumped on the bandwagon immediately after Garlinghouse’s comments. The exchange put out a statement backing the legislative push within hours. “A clear legal framework is beneficial for all,” the company said, though they didn’t elaborate on specific details they want to see in the final version. More on this topic: Ripple CEO Fires Back at Grayscales.

Not everyone’s thrilled about rushing through crypto legislation, though. Some policy experts worry that Congress might move too fast and accidentally create new problems. They’re pushing for more hearings and expert testimony before any votes happen. The critics have a point – crypto moves so fast that laws written today might be outdated by next year.

So what happens next?

Congressional hearings are set to kick off in early March, with the House Financial Services Committee taking the lead. Chairwoman Maxine Waters will probably play a huge role in shaping what the final bill looks like. She’s been pretty skeptical of crypto in the past, but even she seems to recognize that the U.S. can’t keep ignoring digital assets forever.

Garlinghouse’s confidence comes from recent meetings with senators who seem genuinely interested in getting something done. On February 15, he said several influential lawmakers from both parties have expressed support for the bill. “We’ve had positive meetings on Capitol Hill,” he noted, though he didn’t name specific senators or reveal what they discussed behind closed doors.

The Blockchain Association has been working overtime to build support for the legislation. Kristin Smith, who runs the lobbying group, warned on February 18 that America risks falling behind in the global crypto race. “Without clear laws, we risk falling behind,” she said, pointing to how other countries are already attracting crypto businesses with friendly regulations.

Markets reacted pretty quickly to Garlinghouse’s optimistic timeline. XRP jumped to $0.85 by the end of trading on February 20, up from around $0.82 earlier that morning. Traders are clearly betting that regulatory clarity would boost crypto prices across the board. This follows earlier reporting on Senator Moreno Pushes April Deadline for.

Senate Majority Leader Chuck Schumer weighed in on February 22, acknowledging that digital asset legislation has become a priority. During a press briefing, he said the bill could modernize financial regulations while still protecting investors. “We are ready to align our oversight with the final regulatory framework,” a FINRA spokesperson said on February 24, showing that regulatory agencies are preparing for potential changes.

International regulators are watching closely too. The European Securities and Markets Authority released a statement on February 25 saying they’re monitoring U.S. developments that could influence European policy. “We are observing the U.S. developments closely,” ESMA said, recognizing that American crypto rules often set global standards.

The March hearings will probably determine whether Garlinghouse’s 90% prediction holds up. Industry players are already preparing testimony and lobbying materials for what could be the most important crypto legislation in years. Some amendments are almost guaranteed – that’s just how Congress works.

Neither the SEC nor CFTC has released official statements about where they stand on the bill. Their positions could make or break the legislation’s chances, especially if they start fighting over jurisdiction behind the scenes.

Garlinghouse’s timeline seems aggressive, but stranger things have happened in Washington when there’s bipartisan support and industry pressure. The crypto industry has been waiting years for this kind of regulatory clarity, and April can’t come soon enough for companies that have been operating in legal limbo.