Ripple CEO Brad Garlinghouse is set to testify at the U.S. Senate Banking Committee on July 9 regarding the future of digital asset markets.
Future of Digital Assets and Garlinghouse's Role
The hearing titled 'From Wall Street to Web3: Building the Future of Digital Asset Markets' will feature Garlinghouse as a key witness. Discussions will focus on the GENIUS Stablecoin Act and the CLARITY Market Structure Act, aimed at clarifying the jurisdictions of the SEC and CFTC, which is critical for U.S. cryptocurrency markets.
Market Expectations and Opinions
Garlinghouse emphasizes the importance of clear cryptocurrency market regulations, noting that this could enhance innovation and financial opportunities. Industry participants express diverse opinions, with former BitMEX CEO Arthur Hayes advocating for 'decentralized regulation,' while Real Vision CEO Raoul Pal underscores the need for the U.S. to maintain its prominence in financial market infrastructure.
Market Data and Cryptocurrency Insights
Currently, XRP is trading at $2.25 with a market cap of $133.05 billion, controlling 4.01% of the total cryptocurrency market. Its 24-hour trading volume surged by 81.50%, reaching $4.63 billion. Despite a slight 0.92% price dip in the past day, XRP shows a 90-day growth of 26.14%.
The Senate hearing may shape future legislative directions, significantly impacting the digital asset market and its participants.
