XRP News Today: Ripple CEO to Testify Before Senate on Digital Assets

Ripple's chief executive officer, Brad Garlinghouse, has confirmed his intention to testify before the U.S. Senate Banking Committee on Wednesday, July 9, 2025. This development comes as part of an ongoing discussion on market structure and the role of digital assets within the financial ecosystem. Garlinghouse's testimony is expected to provide insights into Ripple's operations, its stance on regulatory frameworks, and the broader implications for the cryptocurrency industry.

The Senate Banking Committee's interest in Ripple and its CEO underscores the growing scrutiny that digital currencies and blockchain technology are facing from regulatory bodies. Garlinghouse's appearance before the committee is likely to address concerns about market manipulation, consumer protection, and the potential for digital assets to disrupt traditional financial systems. His testimony could also shed light on Ripple's efforts to comply with existing regulations and its advocacy for clearer guidelines in the digital asset space.

Garlinghouse’s testimony comes as Ripple, the company behind the 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.

The timing of Garlinghouse's testimony coincides with broader legislative efforts to shape the future of digital currencies. More than 16 House Republicans have already expressed opposition to the Senate version of a bill aimed at regulating digital assets. This opposition highlights the contentious nature of the debate and the challenges lawmakers face in crafting legislation that balances innovation with consumer protection. The bill has advanced to the debate stage in the Senate, indicating that significant progress is being made towards establishing a regulatory framework for digital assets.

Garlinghouse's testimony is anticipated to be a pivotal moment in the ongoing dialogue between the cryptocurrency industry and regulatory authorities. His insights could influence the direction of future legislation and provide a roadmap for other digital asset companies seeking to navigate the complex regulatory landscape. As the Senate Banking Committee continues its deliberations, Garlinghouse's appearance will be closely watched by industry stakeholders, policymakers, and the public alike.