XRP News Today: Ripple CEO to Testify at Senate Hearing on Crypto Market Structure

Ripple CEO Brad Garlinghouse has confirmed his participation in the upcoming U.S. Senate Banking Committee hearing, scheduled for Wednesday, July 9, 2025. The hearing, focused on the crypto market structure, will be conducted by the Banking Committee’s Subcommittee for Digital Assets. Garlinghouse expressed his honor at being invited to testify, emphasizing the importance of passing crypto market structure legislation to foster innovation and financial opportunities while safeguarding consumers.

Garlinghouse’s testimony comes at a pivotal moment for Ripple, the company behind the XRP cryptocurrency, RLUSD stablecoin, and the XRP Ledger. Ripple has recently navigated significant regulatory challenges, including a long-standing legal battle with the U.S. Securities and Exchange Commission (SEC). A U.S. judge declared XRP not a security, and Ripple Labs withdrew its appeal of the court’s permanent injunction on institutional XRP sales. The company has engaged with various U.S. regulatory bodies, including the Commodity Futures Trading Commission, the Financial Crimes Enforcement Network, and the Financial Stability Oversight Council, since 2013. The SEC lawsuit against Ripple and its top executives, filed in December 2020, has been a prolonged legal battle that has now spanned nearly five years.

Garlinghouse’s role as Ripple’s CEO and his involvement in the broader digital assets ecosystem position him as a key participant in the hearing. The Senate Banking Committee, led by Chair Tim Scott, has been working on establishing a comprehensive market structure framework for digital assets. Last month, Scott, along with Subcommittee on Digital Assets Chair Cynthia Lummis, Senator Thom Tillis, and Senator Bill Hagerty, published a set of principles aimed at achieving this goal. The hearings will align with these principles, providing a platform for lawmakers to engage with Garlinghouse and other industry leaders.

The upcoming hearing is part of a broader effort by the Senate Banking Committee to advance digital assets regulation. Scott has highlighted the committee’s new approach to digital assets regulation, which has already yielded results for the industry and the American public. The committee aims to build on the success of the GENIUS Act and advance market structure legislation in the Senate. The hearing will focus on the need for constructive crypto market structure legislation to drive innovation and financial opportunities while ensuring consumer protection.