US Crypto Bill: All-out Effort to Save It...Garlinghouse "Don't Kill It"

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Ripple CEO Brad Garlinghouse has stepped up with last-minute support ahead of a Senate vote that will determine the fate of the U.S. cryptocurrency market structure bill, stating, "Perfection should not be the enemy of a good bill."

According to U.Today on September 15 (local time), Garlinghouse urged U.S. senators not to abandon the U.S. cryptocurrency market structure bill due to remaining disagreements. He said, "This bill is not just a compromise. It is the result of policymakers making real concessions to get to this point." He further emphasized, "Perfection should not be the enemy of a good bill."

Garlinghouse's remarks came after U.S. Treasury Secretary Scott Bessent urged Congress to pass the bill. Republicans unveiled an amended bill over the weekend, reflecting more than 100 substantive amendments requested by Democrats after months of negotiations. U.Today reported that significant progress had been made on one of the most difficult issues to resolve.

Expectations for the bill's passage quickly rose after the amended bill was unveiled. On Polymarket, the probability of the U.S. cryptocurrency market structure bill becoming law in 2026 jumped from the low 20s to about 35% on September 14. Galaxy Digital CEO Mike Novogratz also said over the weekend, "The bill is not dead."

However, the optimism did not last long. With some Democratic lawmakers still expressing dissatisfaction with the final compromise, the likelihood of the bill passing on Polymarket dropped back to the high teens. U.S. Senator Mark Warner assessed that the amendments were not sufficient, and U.S. Senator Ruben Gallego also stated that there was much room for improvement in the latest proposal. U.S. Senator Elizabeth Warren's banking committee staff also distributed arguments against the compromise.

The Senate is scheduled to hold a cloture vote on Tuesday to proceed with the bill's deliberation process. Even if this vote fails, the U.S. cryptocurrency market structure bill will not be immediately scrapped. However, U.Today reported that any significant further delays could make it much more difficult to enact the bill within 2026.

[Key Article Summary]

-Brad Garlinghouse urged that the U.S. cryptocurrency market structure bill should not be abandoned due to remaining disagreements surrounding it.

-The Republican amendment included over 100 substantive modifications requested by Democrats, but opposition from some Democratic lawmakers continues.

-Polymarket's probability of the bill becoming law by 2026 initially rose to about 35% but then fell back to the high teens, with the Senate cloture vote remaining a key turning point.

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