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Highlights
- Ripple CEO Brad Garlinghouse released his full written testimony in advance of the July 9 U.S. Senate Banking Committee hearing.
- Garlinghouse described Ripple’s legal win against the SEC as a game changer.
- He urged lawmakers to pass the CLARITY Act, and argued that the U.S. should lead global innovation in blockchain and digital assets.
Ripple CEO Brad Garlinghouse has shared his complete Senate testimony before he speaks to the U.S. Senate Banking Committee. The hearing on July 9 is a crucial step in the push for clear rules governing cryptocurrencies, particularly in light of the XRP lawsuit victory.
Brad Garlinghouse Declares XRP Lawsuit Win A Game Changer
In his written statement, Brad Garlinghouse emphasized the broader industry impact of Ripple’s victory in the long-running lawsuit with the U.S. Securities and Exchange Commission (SEC). Filed in 2020, the case challenged the classification of XRP as a security. However, after four long years of the Ripple lawsuit, the company emerged with a decisive court ruling that XRP is not, by itself, a security.
“Ripple was the first leading U.S. crypto company to be sued by the SEC. We and many others understood that a loss here would be a death knell for the industry in the U.S. Fortunately, after four years of a hard-fought legal battle, we prevailed.”
A key message from the Ripple CEO’s testimony is the urgent need for smart, targeted legislation to define the rules of the road for digital assets. He called on lawmakers to prioritize passage of the long-debated crypto market structure bill, currently referred to as the CLARITY Act.
“The U.S. possesses the world’s deepest capital markets, the most advanced technical talent, and the spirit of innovation that has powered our nation since its founding. There is no reason we should not be the undisputed leader in digital assets and blockchain,” he asserted.
Over 55 million Americans participate in the crypto economy, contributing to a $3.4 trillion global market cap. According to Garlinghouse, clear regulations will unlock efficiencies, boost financial innovation, and safeguard consumers.
Ripple CEO Set to Help Shape Senate’s CLARITY Act
As first reported by CoinGape, Brad Garlinghouse will play a central role in shaping the Senate’s progress on the CLARITY Act. The invitation follows Ripple’s resolution of cleared legal challenges and growing institutional interest, particularly after its U.S. banking license application.
He also pointed out that the regulatory climate has shifted under the current administration, with the SEC exhibiting a more open posture toward crypto innovation, especially after the XRP lawsuit was resolved shortly after Trump’s inauguration. ‘
The Senate hearing represents the first direct public exchange between Garlinghouse and Senator Elizabeth Warren, one of Capitol Hill’s most vocal critics of cryptocurrency.
With the XRP lawsuit now over and regulatory dialogue gaining momentum, the company is positioning itself at the forefront of the next chapter in U.S. crypto policy.
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