XRP News: Ripple CEO To Testify At CLARITY Act Hearing

Highlights

Ripple CEO Brad Garlinghouse will testify before the US Senate Banking Committee on July 9.
This forms part of the hearing on the Senate's version of the crypto market structure bill.
Garlinghouse and Ripple have become important figures in crypto regulation due to the XRP lawsuit.

Ripple CEO Brad Garlinghouse could play a critical role in the US Senate’s move to advance its version of the crypto market structure bill, also known as the CLARITY Act. Garlinghouse revealed that he will testify at a Committee hearing which will hold on July 9.

Ripple CEO To Testify Before Senate On CLARITY Act

In an X post, Brad Garlinghouse remarked that he is honored to get an invitation to testify in front of the Senate Banking Committee on July 9. He will testify on the need to pass the CLARITY Act, a crypto regulation that could provide regulatory clarity for the industry.

This comes just two weeks after the Senate Banking Subcommittee on Digital Assets released principles that will guide the crypto bill’s development. The senators had stated back then that the principles would guide them on how to engage with stakeholders (like the Ripple CEO) on the proposed bill.

Garlinghouse thanked the Banking Committee Chairman Senator Tim Scott, Senator Cynthia Lummis, and Ruben Gallego, who are the leaders of the Digital Assets Subcommittee, for their work so far.

He declared that their leadership, both with the hearing and over the years, in championing the crypto industry has been critical to getting the industry to this “important moment.”

The Ripple CEO added that constructive crypto market structure legislation in the US is important in ushering in a new era of innovation and financial opportunity, while protecting consumers.

Garlinghouse didn’t give any insight into what his testimony would be about. However, the Ripple CEO has a lot to say about the need for crypto regulations, considering his firm’s legal battle against the SEC in the XRP lawsuit.

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