Ripple CEO: The success or failure of cryptocurrency legislation will be decided in the next two weeks

Ripple CEO Brad Garlinghouse stated that the next two weeks will be a critical window for advancing cryptocurrency legislation in the United States.

He pointed out that if the Senate Banking Committee fails to complete the bill review in the near term, the probability of the bill passing will "significantly decrease," especially with the midterm elections approaching, as related issues may become further politicized. Currently, the U.S. is pushing for the first federal-level cryptocurrency regulatory framework, involving the regulatory division of responsibilities between the SEC and the CFTC. Although the House version has passed, progress in the Senate has been relatively slow, but recent compromises around stablecoin yield issues may bring a turning point for advancement this month.