crypto.news 2025-07-07 19:12:16

Ripple CEO confirms he’ll testify before Senate Banking Committee

Ripple chief executive officer Brad Garlinghouse has confirmed he will testify before the U.S. Senate Banking Committee on Wednesday, July 9, 2025. The Senate Banking Committee will hold its crypto market structure hearing on July 9 and Ripple CEO Brad Garlinghouse says he’s “honored to be invited.” Garlinghouse will testify alongside other top industry figures, with his appearance coming amid notable developments in the U.S. regulatory landscape . The hearing will involve the Banking Committee’s Subcommittee for Digital Assets. “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 Ripple CEO noted. “Constructive crypto market structure legislation in the US is imperative in bringing about a new era of innovation and financial opportunity, while protecting consumers.” You might also like: XRP maintains bullish momentum: can bulls break the $2.42 barrier? Ripple and the U.S. regulatory market Garlinghouse’s testimony comes as Ripple, the company behind the XRP ( XRP ) cryptocurrency, RLUSD stablecoin, and the XRP Ledger, looks to move on from a long-standing legal battle that saw a U.S. judge declare XRP not a security. Ripple Labs also recently withdrew its appeal of the court’s permanent injunction on institutional XRP sales. The court had previously denied the company’s motion for an indicative ruling, filed jointly with the U.S. Securities and Exchange Commission. While this accounts for some of the most recent regulatory related hurdles for Ripple, the company has interacted with U.S. regulators since 2013. In addition to the SEC, Ripple has had legal and regulatory interactions with the Commodity Futures Trading Commission, the Financial Crimes Enforcement Network, and the Financial Stability Oversight Council. The SEC sued Ripple and its top executives in December 2020, a lawsuit that dragged on for nearly five years. Garlinghouse’s role at Ripple and across the broader digital assets ecosystem makes him a key industry participant at the hearing. Last month, Senate Banking Chair Tim Scott, Subcommittee on Digital Assets Chair Cynthia Lummis, Senator Thom Tillis, and Senator Bill Hagerty published a set of principles aimed at establishing a comprehensive market structure framework. The hearings will be held in line with these principles, as lawmakers engage with Garlinghouse and other industry leaders. “Since taking over as Chairman, I’ve led a new approach to digital assets regulation, and we’ve delivered results for the industry and the American people. We have more work to do, and I look forward to building on the success of the GENIUS Act and advancing market structure legislation here in the Senate,” Scott noted. You might also like: Ripple applies for national banking license and Fed master account

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