Ripple CEO Brad Garlinghouse will testify before the U.S. Senate Banking Committee on Wednesday, calling for urgent crypto market structure legislation.
(Source: Brad Garlinghouse on X)
In a post on X (formerly Twitter), Garlinghouse praised bipartisan leaders including Senators Tim Scott, Cynthia Lummis, and Ruben Gallego (as leaders of the Subcommittee for Digital Assets).
He called the hearing a crucial moment for U.S. crypto innovation and consumer protection.
“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 writes in a post on X.
Alongside Ripple’s CEO, Brad Garlinghouse, the Honorable Summer Mersinger, CEO of the Blockchain Association, Jonathan Levin, CEO of Chainalysis, and Dan Robinson, General Partner at Paradigm, have been added to the witness list for “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets.”
Senate Sets Tone With Ripple CEO Ahead of Crypto Week
Washington is preparing for a pivotal ‘Crypto Week’ starting July 14th, as House Financial Services Chair French Hill and Agricultural Chair GT Thompson announced plans to advance three major digital asset bills, namely the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act.
This rigorous legislative effort shows Congress’s strongest bid yet to establish US dominance in crypto innovation while addressing key industry concerns around regulation and privacy.
“For the first time in U.S. history, we have a president who sees the value in embracing digital assets, and already we are working to capitalize on that,” said Senator Cynthia Lummis (R-WY). “In Wyoming, we have worked for nearly a decade to embrace digital assets, and it is exciting to see the federal government beginning to follow in the Cowboy State’s footsteps.
“As we celebrate crypto week, I am thrilled to partner with Chairman Hill and Chairman Thompson to pass comprehensive stablecoin legislation, establish clear market structure rules, and ensure that any central bank digital currency respects Americans’ privacy and financial freedom. Together, we are going to maintain America’s competitive edge and ensure the United States remains the global leader in financial technology while preserving the principles that make our economy the strongest in the world,” she said.
Recently, Ripple Labs has revealed its pivotal shift toward traditional finance by applying for a U.S. banking license. The payments firm confirmed its bid for a national bank charter with the Office of the Comptroller of the Currency (OCC) on Wednesday.
Also Read: Ripple’s $11.3B Valuation by DBS Bank, IPO by 2026
