Ripple CEO to Testify Before Senate Banking Committee

Ripple CEO Brad Garlinghouse is scheduled to testify before the U.S. Senate Banking Committee on Wednesday, July 9, 2025, during a hearing titled “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets.” The session aims to address the evolving regulatory landscape for digital assets, focusing on proposed legislation such as the GENIUS Act and the CLARITY Act.

Garlinghouse will be joined by other industry leaders, including Summer Mersinger, CEO of the Blockchain Association; Jonathan Levin, CEO of Chainalysis; and Dan Robinson, General Partner at Paradigm. The hearing will be overseen by Senate Banking Committee Chairman Tim Scott, with Senators Cynthia Lummis and Ruben Gallego leading the Subcommittee on Digital Assets.

In a statement, Garlinghouse emphasized the importance of establishing a clear regulatory framework for cryptocurrencies in the United States. He noted that constructive legislation is essential for fostering innovation and financial opportunity while ensuring consumer protection.

This testimony comes in the wake of significant legal developments for Ripple. In July 2023, a U.S. District Court ruled that XRP, Ripple’s native cryptocurrency, is not a security when sold to the general public, though it may be considered a security in certain institutional contexts. More recently, on June 26, 2025, Judge Analisa Torres reaffirmed this position by rejecting a proposed settlement agreement between Ripple and the Securities and Exchange Commission (SEC), thereby maintaining the classification of XRP as not a security in most contexts.

The GENIUS Act, which stands for Guiding and Establishing National Innovation for U.S. Stablecoins, was passed by the Senate on June 17, 2025, with a bipartisan vote of 68-30. The legislation aims to establish a regulatory framework for stablecoins, requiring issuers to hold equivalent reserves and adhere to specific operational standards. The bill now awaits consideration in the House of Representatives.