TLDR
Ripple CEO Brad Garlinghouse will testify before the U.S. Senate Banking Committee on July 9.
The hearing will review the CLARITY and GENIUS Acts aimed at regulating digital assets and stablecoins.
Lawmakers seek clearer roles for the SEC and CFTC in overseeing crypto under the proposed bills.
Industry leaders from Ripple, Chainalysis, Paradigm, and the Blockchain Association will give testimony.
Ripple CEO Brad Garlinghouse is scheduled to testify before the United States Senate Banking Committee on July 9. The hearing will focus on the CLARITY Act, a proposed bill aimed at establishing clearer regulations for digital asset markets in the country. The session, titled “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets,” will feature several key industry leaders alongside Garlinghouse.
The hearing comes as part of a broader discussion around crypto regulation and innovation. Lawmakers are working on bills that aim to modernize the U.S. regulatory approach to the digital asset space.
Purpose of the Senate Hearing
The July 9 hearing will bring together policymakers and executives from the crypto industry to discuss proposed digital asset legislation. Among the main topics will be the CLARITY Act and the GENIUS Act, two bills that have advanced through earlier committee stages.
The CLARITY Act aims to define how digital assets should be classified and regulated under federal law. This includes guidance on the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The GENIUS Act addresses stablecoin regulation and aims to establish federal oversight standards.
Senators Tim Scott, Cynthia Lummis, and Ruben Gallego have been leading the efforts on digital asset policy. Their work has gained attention as the crypto industry continues to push for laws that would help reduce uncertainty in the space.
Ripple’s Role in Crypto Regulation
Ripple CEO Brad Garlinghouse announced on X that he will testify before the committee and expressed his support for the legislative process.
“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,” he said on X (formerly Twitter).
Garlinghouse has become a central figure in the push for crypto regulation in the United States. Ripple has been in a multi-year legal dispute with the SEC over the status of XRP, its native digital token. The lawsuit has drawn national attention and placed Ripple at the center of the discussion on how crypto assets should be treated under U.S. law.
According to Garlinghouse, well-structured legislation is necessary for both protecting consumers and supporting financial innovation in the country.
Other Participants and Industry Perspective
Other speakers scheduled for the hearing include Summer Mersinger, CEO of the Blockchain Association; Jonathan Levin, CEO of Chainalysis; and Dan Robinson from Paradigm. These industry leaders are as a result expected to provide input on how proposed legislation could shape the future of digital asset markets in the U.S.
The Banking Committee will as a result listen to the views of both regulators and private sector executives to decide on the next steps. The outcome of this hearing may help set the tone for the future of crypto regulation.
The testimony comes two weeks after the Senate Banking Subcommittee on Digital Assets released a set of principles for crypto legislation. These guidelines as a result aim to help lawmakers work closely with industry stakeholders like Ripple and others involved in the hearing.
Legislative Developments and Future Outlook
Moreover, both the CLARITY and GENIUS bills have passed through important legislative stages. They are now being reviewed for further amendments and possible final approval. The bills as a result of a wider effort to create a balanced framework for digital assets in the United States.
Senators have made it clear that they want to work with industry experts to build a fair and workable regulatory model. Garlinghouse’s testimony is expected to focus on why regulatory clarity is essential and how such laws could help the country stay competitive in the global digital economy.
The hearing marks a new phase in the ongoing discussion between lawmakers and the crypto industry. Consequently, it may lead to more detailed legislation in the near future.
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