Ripple CEO to Testify Before Senate on Digital Asset Regulation

Ripple CEO Brad Garlinghouse is set to testify before the U.S. Senate Banking Committee on July 9, 2025. The hearing, titled "From Wall Street to Web3," will focus on the future of digital asset markets and the need for clear regulatory frameworks. Garlinghouse's testimony is part of a broader effort to advocate for the passage of constructive crypto market structure legislation in the U.S. He aims to explain how such legislation can usher in a new era of innovation in the digital asset space.

Garlinghouse has expressed gratitude to Senators Tim Scott, Ruben Gallego, and Cynthia Lummis, who are leaders of the newly created subcommittee on digital assets. This will be his first formal testimony before the Senate Banking Committee. The hearing is expected to address key issues such as the classification of digital assets as securities versus commodities, regulatory jurisdiction between the SEC and CFTC, and the creation of new registration regimes for brokers, exchanges, and custodians.

The Senate Banking Committee has confirmed that several bills, including the CLARITY Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act, will be considered during the week of July 14. These bills are part of an intense lobbying effort by various cryptocurrency organizations aimed at passing legislation that provides regulatory clarity for digital asset markets.

In addition to Garlinghouse, other notable figures set to testify during the hearing include Chainalysis CEO Jonathan Levin, Blockchain Association CEO Summer Mersinger, and Harvard policy expert Tim Massad. The hearing is scheduled to begin at 10:15 a.m. ET and will be broadcast live on the Senate Banking Committee’s official website.

Garlinghouse's testimony is significant as it comes at a time when the cryptocurrency industry is seeking greater regulatory clarity. The passage of market structure legislation is seen as crucial for fostering innovation and ensuring that digital assets are properly regulated. The hearing will provide a platform for industry leaders to voice their concerns and propose solutions to the regulatory challenges faced by the cryptocurrency sector.

Ripple’s testimony represents a pivotal moment for industry regulations. The outcomes may set precedents for integrating digital assets within existing financial systems, influencing future crypto innovations. Industry experts remain attentive to the potential implications on technological and regulatory landscapes.