Ripple CEO Brad Garlinghouse to Testify Before Senate on Crypto Regulation

The Senate Banking Committee, chaired by Senator Tim Scott (R-SC), will host the hearing as part of ongoing efforts to establish clear federal guidelines for the growing crypto and blockchain sector. The subcommittee on Digital Assets, led by Senators Cynthia Lummis (R-WY) and Ruben Gallego (D-AZ), is overseeing the discussion.

Garlinghouse will be joined by other prominent industry representatives, including Jonathan Levin, co-founder of Chainalysis; Summer Mersinger, CEO of the Blockchain Association; and Dan Robinson, General Partner at Paradigm. Each will offer their perspectives on how regulation can better serve both innovation and investor protection in digital asset markets.

Garlinghouse stated, “I am honored to be invited to testify in front of the Senate Banking Committee this Wednesday on the need for passing crypto market structure legislation. Constructive crypto market structure legislation in the US is imperative in bringing about a new era of innovation and financial opportunity, while protecting consumers.”

The timing of the hearing is significant. It comes just two weeks after the U.S. Senate passed the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) by a bipartisan vote of 68–30. The bill, which now awaits action in the House of Representatives, proposes licensing requirements, reserve mandates, and operational standards for stablecoin issuers.

In tandem with the GENIUS Act, lawmakers are also debating the CLARITY Act, which seeks to define jurisdictional boundaries between federal agencies like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). If passed, the bill could finally resolve long-standing ambiguities about whether digital assets should be treated as securities, commodities, or something else entirely.

Ripple’s position in these discussions is particularly relevant. Since 2020, the company has been embroiled in a legal battle with the SEC, which accused Ripple of conducting an unregistered securities offering by selling its native token, XRP. In a landmark ruling issued in July 2023, U.S. District Judge Analisa Torres concluded that XRP is not a security when sold on public exchanges, though it could be considered one in certain institutional contexts.

That decision was seen as a partial victory for Ripple and a major precedent in crypto case law. Most recently, on June 26, 2025, Judge Torres reaffirmed her earlier stance by rejecting a proposed settlement that would have imposed broader restrictions on XRP sales. Her ruling maintained that XRP does not fall under the SEC’s full jurisdiction in most cases, bolstering calls for tailored legislation. Shortly afterward, Ripple ended its cross-appeal and formally closed its long-running legal battle with the SEC, bringing nearly five years of litigation to an end.

Garlinghouse is expected to reference these legal developments during his testimony as a case study for why the current regulatory regime is inadequate.

Ripple has been lobbying for regulatory clarity since at least 2013, when co-founder Chris Larsen engaged with agencies including the Federal Reserve, the Treasury Department, and even the SEC. Those early conversations focused on establishing XRP as a cross-border payments solution, a use case Ripple still champions today.

Despite the legal headwinds, Ripple has expanded its global presence, securing licenses in countries such as the UAE, Singapore and the UK. The company is now pushing for similar clarity in the U.S., hoping to avoid what it calls a “patchwork of enforcement actions” that confuses markets and chills innovation.

The U.S. remains one of the few major economies without a comprehensive crypto policy, even as nations like the UAE, Singapore, and the European Union roll out frameworks to attract blockchain firms. In fact, Ripple recently announced plans to invest in Dubai and Hong Kong as part of a broader international growth strategy, moves widely interpreted as hedges against U.S. regulatory uncertainty.

Yet bipartisan support for reform appears to be growing. Senator Lummis, who co-authored the Responsible Financial Innovation Act in 2022, has been among the most vocal advocates for crypto legislation.

The outcome of Wednesday’s hearing could determine which path the U.S. ultimately takes.