Ripple CEO Brad Garlinghouse has released the testimony he intends to deliver before the U.S. Senate Committee on Banking, Housing, and Urban Affairs later today. As the head of one of the world’s most prominent blockchain firms, Garlinghouse’s remarks address the ongoing challenges of regulatory ambiguity in the digital asset sector.
Garlinghouse’s Testimony: XRP Ledger’s Capability
Garlinghouse opens by reminding the Committee of Ripple’s founding mission: to enable the Internet of Value, where money moves as easily as information. He notes that Ripple leverages XRP and the XRP Ledger, which he describes as a battle-tested open-source blockchain to facilitate payments, offering fast, low-cost, and highly scalable transactions.
He emphasizes that Ripple’s blockchain infrastructure and global reach have demonstrated real-world utility through cross-border payments and digital asset custody. However, the absence of clear regulatory rules in the U.S. is stifling innovation.
Garlinghouse noted:
“Ripple leverages the XRP Ledger—a decentralized, battle-tested open source blockchain – and its native digital asset, XRP, to facilitate payments. XRP is built to enable fast, low-cost, and highly scalable transactions.”
XRP Lawsuit Shows Regulatory Failure
Garlinghouse highlights Ripple’s desire to work with policymakers, citing over 60 licenses in the U.S. and other parts of the world. He revisits Ripple’s legal battle with the Securities and Exchange Commission (SEC), which began with a 2020 enforcement action targeting XRP. “We prevailed,” he states, highlighting the court’s decision that XRP is not, in and of itself, a security.
He stated that this ruling cleared the path for others to fight back. He believes it should have set a clear precedent, ending what he calls a “regulation-by-enforcement campaign.”
My full testimony for the hearing is available here: https://t.co/NHTh8wKQMc
— Brad Garlinghouse (@bgarlinghouse) July 8, 2025
We are on X, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) June 15, 2025
Call for Immediate Legislative Action
Garlinghouse makes a strong case for Congress to pass comprehensive market structure legislation. Prioritizing bills like the recently passed GENIUS Act would clearly define regulatory boundaries and allow innovation.
The CEO’s policy priorities are clear jurisdictional boundaries for regulators, pathways for growth in the U.S. while maintaining consumer protection, and leveraging blockchain technology to make the U.S. a global leader in the crypto space.
Making the U.S. a Global Leader
“There is no reason we should not be the undisputed leader in digital assets and blockchain,” he writes, emphasizing that over 55 million Americans now participate in the crypto economy, supporting a $3.4 trillion market.
Although some lawmakers might be apprehensive, Garlinghouse shared a video telling the stories of Americans who were also skeptical but came to see the advantages of cryptocurrencies after educating themselves and engaging with the market. He aims to break the crypto holder stereotype and give XRP holders and the millions of American crypto users regulatory clarity.
Speaking on behalf of Ripple and the broader crypto industry, he urges the Senate to prioritize passing legislation for digital assets, arguing that clear rules are essential to make the U.S. the crypto capital of the world.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on X, Facebook, Telegram, and Google News
