Ripple CEO Brad Garlinghouse will testify before a pivotal US Senate hearing that could redefine oversight, innovation, and investor protection across digital markets. This will be Garlinghouse’s first formal testimony before the Senate Banking Committee. Garlinghouse To Testify On Crypto Legislation In Senate Hearing Garlinghouse confirmed in a post on X that he has been invited to testify before the U.S. Senate Banking Committee on Wednesday, July 9, during a full committee hearing titled “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets. “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,” Garlinghouse wrote . The Ripple chief expressed gratitude to Senators Tim Scott, Ruben Gallego, and Cynthia Lummis, the leaders of the newly created subcommittee on digital assets. Garlinghouse has called for passing “constructive” crypto market structure legislation, contending that it is crucial for ushering in “a new era of innovation.” He will be attending the hearing alongside other industry executives, including Summer Mersinger, the CEO of the Blockchain Association, Chainalysis CEO Jonathan Levin, and Paradigm’s Dan Robinson. The hearing will focus on the proposed digital asset market structure legislation, including bills like the Senate’s Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act and the House’s market structure bill, the Clarity Act. These two bills are currently in advanced legislative stages after having cleared key committee and floor votes — marking a major crypto industry win. Both bills are part of a wider push to enact sweeping rules to govern how digital assets are issued, traded, and regulated, and ensure that the United States becomes the “ undisputed Bitcoin superpower .” SEC Makes Tangible Progress On Crypto Regulations The upcoming hearing comes on the heels of a significant shift in the Securities and Exchange Commission’s (SEC) stance toward crypto. After years of enforcement-heavy actions, the Commission has recently taken measures demonstrating a more collaborative posture with the industry. This includes issuing guidance on company disclosures related to digital assets in an effort to clarify which tokens fall under federal securities laws and tossing out lawsuits. Adding to the backdrop is Ripple’s own legal milestone. The blockchain payments firm recently announced the dismissal of its cross-appeal in the protracted case with the SEC, suggesting the five-year legal brawl over XRP’s security status is nearing an end. The SEC is expected to follow suit by withdrawing its own appeal, as ZyCrypto previously covered. This development came after a US District court rejected a joint bid to slash Ripple’s $125 million penalty and dissolve a permanent injunction.
