Ripple CEO praises GENIUS Act as shift toward crypto regulation
Ripple backs historic stablecoin regulation bill
Ripple CEO Brad Garlinghouse has applauded the passage of the GENIUS Act, calling it a “truly historic moment” for the crypto industry.
The U.S. Senate voted 68–30 in favor of the bill, marking the first major financial legislation since Dodd-Frank and a turning point for digital asset regulation in the United States.
Key takeaways
- The GENIUS Act passed with bipartisan support (68–30), signaling rare political unity on crypto
- Ripple CEO Brad Garlinghouse called the bill a “historic moment” for the digital asset sector
- The law imposes clear rules for stablecoin issuers, including audits and reserve disclosures
- Supporters say the bill strengthens U.S. dollar dominance and consumer protections
- The bill may indirectly boost Ripple’s RLUSD stablecoin and XRP’s role in cross-border payments
A turning point for stablecoin regulation
The GENIUS Act introduces a federal framework for stablecoins, requiring issuers to meet banking standards, submit to monthly disclosures, and undergo annual audits. Garlinghouse, a vocal advocate for regulatory clarity, said the move is long overdue and represents a major milestone for institutional adoption.
The GENIUS Act sets strict parameters for stablecoin issuance. Only approved institutions—such as banks—can issue U.S. dollar-backed digital assets. Issuers must provide monthly reports on reserves and complete annual audits, introducing a new standard of transparency in a market that has often operated with limited oversight.
Ripple’s endorsement reflects wider industry hope
Garlinghouse’s endorsement of the bill reflects the crypto industry's long-standing desire for a consistent regulatory framework. The Ripple CEO has repeatedly stressed that clear rules are essential for attracting institutional capital and legitimizing digital finance in the eyes of regulators and investors.
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This is especially important against the backdrop of a significant increase in transaction volume in stablecoins.
2024 Quarterly Transfer Volume. Source: Cex.io
Ripple, XRP, and the road ahead
Crypto watchers suggest the bill may enhance the credibility of Ripple’s RLUSD stablecoin, strengthen institutional trust, and increase XRP's usage in global settlements. It also comes at a time when XRP is eyeing deeper integration into the digital payments ecosystem, potentially benefiting from greater regulatory certainty.
Shifting political climate
The bill’s passage also reflects changing attitudes in Washington. Notably, 18 Democratic senators crossed the aisle to vote alongside Republicans. This signals a shift toward more pragmatic engagement with crypto and its role in modern finance.
As the GENIUS Act heads toward implementation, its long-term impact on the U.S. financial system, stablecoin adoption, and Ripple’s position in the market will come into sharper focus. For now, the industry celebrates a rare win—one that promises to reshape the future of regulated digital assets.
We also wrote that Ripple CEO Brad Garlinghouse highlights company market growth.
