Ripple CEO: The next two weeks will determine the success or failure of crypto legislation.

Ripple CEO Brad Garlinghouse stated that the next two weeks will be a crucial window for advancing US crypto legislation. He pointed out that if the Senate Banking Committee fails to mark up the bill in the near future, the probability of its passage will "significantly decrease," especially as the midterm elections approach, and related issues may become further politicized. Currently, the US is pushing for its first federal-level crypto regulatory framework, involving the division of regulatory responsibilities between the SEC and CFTC. Although the House version has passed, progress in the Senate has been relatively slow, but recent compromises on stablecoin yields may bring a turning point for progress this month.