Ripple’s CEO Brad Garlinghouse is preparing to testify before the powerful U.S. Senate Banking Committee for the first time. On July 9, Garlinghouse and other top industry voices will share why the country urgently needs clear crypto market rules and what they believe lawmakers should do next.
Pushing for Clear Crypto Rules
In a recent tweet post, Garlinghouse announced that he feels honored to speak directly to lawmakers about why the U.S. needs proper rules for digital assets. Meanwhile, he thanked Senator Tim Scott, Senator Cynthia Lummis, and Senator Ruben Gallego for leading the way and supporting crypto-friendly rules.
He believes that strong but fair rules can protect everyday people and still let new ideas grow.
For years, Ripple and many other crypto companies have asked for clear laws that explain which digital coins are treated like stocks (securities) and which are seen as goods (commodities).
Right now, it’s often confusing for crypto companies to know which agency they should answer to the SEC or the CFTC.
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Key Crypto Bills on the Table
Meanwhile, this hearing comes as Congress looks at three big bills: the CLARITY Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act. Together, these could finally bring clear rules for how crypto companies, brokers, and exchanges work.
One of the biggest pieces is the CLARITY Act. It aims to settle the fight over whether the SEC or the CFTC should control different digital coins. Senator Tim Scott has hinted that this bill could even pass by October if all goes well.
Who Else Will Speak?
Brad won’t be alone in this important hearing. Other speakers include Chainalysis CEO Jonathan Levin, Blockchain Association CEO Summer Mersinger, and a top Harvard expert.
They will share why smart rules matter and how they can help the U.S. stay ahead in the global crypto space. With clear rules, crypto companies can keep building and people can feel safer investing.
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FAQs
Ripple CEO Brad Garlinghouse is testifying to advocate for the urgent passage of clear crypto market structure legislation in the U.S. He aims to explain how robust yet fair rules can protect consumers, foster innovation, and clarify regulatory jurisdiction between agencies like the SEC and CFTC, which has long been a point of confusion for crypto companies.
Garlinghouse aims to advocate for the urgent need for clear and fair crypto market rules in the U.S. He will emphasize how proper legislation can both protect everyday investors and foster innovation in the digital asset space, pushing for clarity on whether digital assets are classified as securities or commodities.
Alongside Brad Garlinghouse, other prominent industry voices are scheduled to testify. These include Jonathan Levin, CEO of Chainalysis; Summer Mersinger, CEO of the Blockchain Association; and Dan Robinson, General Partner at Paradigm. They will collectively present the industry’s perspective on the importance of regulatory clarity for the U.S. crypto market.
