Ripple’s Brad Garlinghouse will testify before the US Senate Banking Committee

Ripple CEO Brad Garlinghouse has announced that he will testify before the US Senate Banking Committee during its hearing this week on Wednesday morning. He will assert the need for constructive crypto market structure legislation in the US.

Brad Garlinghouse confirmed on X saying, “I am honored to be invited to testify in front of the Senate Banking Committee this Wednesday on the need for passing crypto market structure legislation.” 

The hearing titled “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets,” will be overseen by Senate Banking GOP Chairman Tim Scott, along with Senators Cynthia Lummis and Ruben Gallego, who are in charge of the Subcommittee for Digital Assets. 

Garlinghouse has praised them, saying, “Your leadership – both with this hearing and over the years in championing the crypto industry – has been critical to getting us to this important moment.”

This happened two weeks after the Senate Banking Subcommittee on Digital Assets released the rules to develop the crypto bill. The senators said that the principles would help them figure out how to talk to stakeholders interested in the bill, like the CEO of Ripple.

Industry leaders seek clarity to spur innovation

Garlinghouse will join industry voices, including Blockchain Association member Summer Mersinger and Chainalysis CEO Jonathan Levin. Together, they will address the Senate on how fragmented regulation limits innovation and undermines US leadership in digital assets. XRP holders expect their testimony to emphasize urgency and promote a consistent approach.

“Constructive crypto market structure legislation in the US is imperative in bringing about a new era of innovation and financial opportunity, while protecting consumers,” Garlinghouse said.

Paradigm researcher Dan Robinson will also testify. He will bring technical insights into how regulation affects blockchain development. Legislators intend to gather input from all sides before finalizing any framework.

Also, the hearing will address the proposed crypto market structure legislation, including bills such as the GENIUS Act and CLARITY Act, as well as frameworks for digital assets.

The GENIUS stablecoin and CLARITY digital asset market bills are in advanced legislative stages. They have both cleared key committees and floor votes. They are part of a wider push to modernize US digital asset regulation.

The lawmakers also seek to draw clearer lines between digital assets regulated by the SEC and those under CFTC oversight. Their proposal introduces specific definitions intended to reduce jurisdictional uncertainty and increase transparency.

XRP holders see this as a possible turning point in determining how to classify XRP. Ripple has been in touch with officials many times, but the token is still in regulatory uncertainty. XRP holders have endured mixed signals from federal agencies for years, impacting the asset’s adoption and price stability.

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