Ripple CEO to testify before U.S. Senate on crypto regulation
Ripple calls for clarity in cryptocurrency regulation
Ripple CEO Brad Garlinghouse is set to appear before the U.S. Senate Banking Committee on July 9 to advocate for clearer regulation of digital assets. The hearing, titled “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets,” marks a critical moment for the crypto industry, as lawmakers work to shape a legal framework for the rapidly evolving market.
Garlinghouse confirmed his participation via the platform X, expressing gratitude for the invitation. He emphasized the importance of developing comprehensive legislation that fosters innovation while ensuring consumer protection. The session will be led by Republican Committee Chairman Tim Scott, along with Senators Cynthia Lummis and Ruben Gallego, who chair the Senate Subcommittee on Digital Assets.
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Senatorial support and industry expert participation
The hearing follows shortly after the Subcommittee published guiding principles intended to steer the legislative process and enhance engagement with key industry stakeholders. Garlinghouse thanked the senators for their consistent support of the crypto sector, noting that their leadership has been crucial at this pivotal moment for the industry.
Joining Garlinghouse at the hearing will be other industry figures, including Blockchain Association member Summer Mersinger, Chainalysis CEO Jonathan Levin, and Paradigm researcher Dan Robinson. They aim to shed light on how fragmented regulation is stifling innovation and creating uncertainty around the classification of digital assets.
Legislative focus and potential market impact
The hearing will focus in particular on the CLARITY Act and the GENIUS Act—two legislative proposals currently progressing through Congress. These initiatives seek to establish clear jurisdictional boundaries between the SEC and CFTC, providing long-awaited transparency for market participants. For XRP holders, the hearing could mark a turning point, as Ripple continues its years-long legal battle with the SEC over the token’s legal status.
Amid mounting pressure to modernize crypto laws, Garlinghouse’s testimony may help shape U.S. policy and pave the way for a clearer and more innovation-friendly regulatory landscape.
See also: Ripple CEO denies involvement in Linqto stock sales scandal
