U.S. Senate Digital Asset Bill, Could Become a Critical Turning Point in the Next Two Weeks

The U.S. Senate’s “Digital Asset Market Clarity Act” is expected to reach a turning point within the next two weeks. Ripple CEO Brad Garlinghouse remains optimistic about the bill’s potential passage but also sets a bottom line, stating “this is not a ‘done deal’ yet.”

“Decisive within two weeks… if delayed, the likelihood will sharply decline.”

At the “Consensus 2026” conference in Miami, Garlinghouse said that Senate discussions have entered a critical phase. He pointed out, “If there is no progress during this period, the chances of the bill passing will drop sharply.” He explained that the next key step depends on when the Senate Banking Committee schedules the “markup (amendments and voting)” hearing for the bill.

Recently, senators involved in negotiations have publicly proposed a compromise on the previously biggest point of contention—the “stablecoin yield” issue. According to this, analysts believe the Banking Committee now has grounds to hold a hearing.

Stablecoin “Yield” Compromise… Banking Sector Still Finds It Insufficient

The new compromise aims to strike a balance: allowing crypto companies to operate some reward programs, but restricting “interest-bearing stablecoin accounts” similar to bank interest deposits. The industry generally considers this plan acceptable, but major banking groups have expressed concerns, believing it is “still not enough.”

Garlinghouse emphasized, “This isn’t perfect; it’s a product of compromise. But ‘clarity’ is always better than ‘confusion.’”

Legislating SEC policies is key… even with regime changes, it can be maintained

He believes the bill’s fundamental significance lies in its “continuity.” He pointed out that the U.S. Securities and Exchange Commission (SEC), under Chair Gary Gensler, has already partially shifted towards a pro-crypto stance, but if not codified into law, future successors could easily overturn current policies. Gensler is known for adjusting regulatory directions after succeeding former Chair Jay Clayton.

Garlinghouse said, “We don’t know what stance the next chair will take. Once written into law, it’s very hard to overturn.” He explained that the “Clarity Act” is designed as a mechanism for structural change, not just short-term policy.

Stablecoin Market Expected to Reach $3 Trillion by 2031

On the other hand, he predicts that the stablecoin market will grow to about $3 trillion (approximately 4,372.8 trillion Korean won) by 2031. Currently, the market size is about $320 billion, dominated by Tether’s USDT. Ripple launched its own stablecoin, RLUSD, in 2024, beginning to capture market share.

If the bill passes, the institutional clarity for stablecoins and the entire digital asset sector will be strengthened, potentially accelerating institutional participation and product diversification. Conversely, if the schedule is delayed, regulatory uncertainty could expand again. Therefore, the legislative schedule in the next two weeks is expected to be a key market variable.

Summary by TokenPost.ai 🔎 Market Analysis The U.S. Senate’s Digital Asset Market Clarity Act will reach a watershed within the next two weeks. If no progress is made during this period, the likelihood of passage will sharply decline. Although a compromise on stablecoin yield models has emerged and discussions have advanced, opposition from the banking sector remains a variable. If the bill passes, institutional capital inflows and market expansion could accelerate. 💡 Strategic Highlights In the short term, whether the “markup hearing schedule (whether it is confirmed within two weeks)” is the key trigger. If the bill passes, projects related to stablecoins, payments, and infrastructure may benefit. If delayed, regulatory uncertainty will increase → prepare for possible market volatility. For companies issuing their own stablecoins, including Ripple (RLUSD), there are medium- to long-term opportunities. 📘 Terminology Explanation Mark-up (markup): The process in Congress of amending and finalizing the bill text. Stablecoin Yield: The structure of providing interest or rewards to stablecoin holders. SEC: The U.S. Securities and Exchange Commission, the core agency overseeing digital asset regulation. Clarity Bill: Legislation aimed at clarifying the legal status and regulatory authority of digital assets.

💡 Frequently Asked Questions (FAQ)

Q. Why is this bill so important? Currently, the regulatory standards for the crypto market are unclear, creating uncertainty for companies and investors. By clarifying the regulatory framework for digital assets, the bill can promote market stability and facilitate its integration into the legal system. Q. Why is the stablecoin ‘yield’ debate the core focus? If interest or rewards are offered to stablecoin holders, it could make them similar to bank deposits, triggering conflicts with financial regulation. The compromise aims to allow some rewards while restricting forms that directly compete with banks. Q. From an investor’s perspective, what should be the key focus? The critical point is whether the Senate Banking Committee’s hearing schedule can be confirmed within the next two weeks. If scheduled, the market may rally on expectations of the bill’s passage; if delayed, increased volatility due to uncertainty is likely.

TP AI Note: This summary was generated using a language model based on TokenPost.ai. It may omit key details from the main text or differ from actual facts.