In a recent U.S. Senate hearing on crypto regulation, Ripple CEO Brad Garlinghouse joined other industry leaders to enlighten lawmakers on the necessity of clear rules for the cryptocurrency market. Alas, no grand proclamations were made, but Garlinghouse deemed it a positive stride towards educating Congress on the workings of crypto and the importance of fair regulation.
During his discourse, Garlinghouse elucidated on Ripple’s utilization of blockchain technology and its token, XRP, to facilitate swift and economical cross-border transactions for banks and businesses. He also shared that Ripple collaborates closely with regulators and boasts over 900 employees in 15 offices worldwide.
Garlinghouse also addressed the tribulations Ripple faced during its protracted legal battle with the U.S. SEC, which culminated in 2023 with a court ruling in Ripple’s favor. He cautioned that ambiguous rules have driven crypto companies and jobs out of the U.S., and urged lawmakers to rectify this before it’s too late.
“For the past decade, legal and regulatory uncertainty around crypto in the U.S. has stymied progress. At Ripple, we witnessed firsthand how unclear rules can be weaponized against good actors. This drives technology, jobs, and tax dollars offshore, reducing oversight and increasing risks for consumers. It’s harmed American businesses, investors, and consumers alike,” he said.
He further added, “Thankfully, after four years of legal battle, we prevailed. The court ruled in our favor on everything that mattered, including confirming that XRP is not, in itself, a security. Our victory cleared the path for others in the market to fight back.”
Thank you @SenatorTimScott and the entire Senate Banking Committee for hosting its first hearing on comprehensive crypto market structure legislation today. In a refreshing change from the rhetoric of the Gensler years, every Senator affirmed that crypto technology is here to…
— Brad Garlinghouse (@bgarlinghouse) July 9, 2025
In a post on social media following the hearing, Garlinghouse expressed gratitude to the Senate Banking Committee and noted that it was heartening to see every senator acknowledge that crypto is here to stay and deserves proper guidelines. He added that while it’s a small step, it gives him hope that the U.S. can still catch up and lead the crypto world with smart, fair laws.
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2025-07-10 08:07