Ripple CEO Brad Garlinghouse has confirmed his participation in the U.S. Senate Banking Committee hearing, where the need for crypto regulation will be addressed.
Senate Hearing and Brad Garlinghouse's Role
Brad Garlinghouse is preparing to testify before the U.S. Senate Banking Committee this Wednesday. He emphasizes that this hearing presents a critical opportunity to advance legislative efforts in the digital asset space. Specifically, he stresses the need for a well-defined regulatory framework to protect consumers and foster innovation in the U.S.
The CLARITY Bill and Its Importance
His testimony will focus on the CLARITY bill, which aims to clarify U.S. regulators' roles in overseeing crypto markets. The bill seeks to address whether digital assets fall under the jurisdiction of the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). This legislative push is significant ahead of Crypto Week, commencing July 14.
XRP Market and Investor Expectations
Despite the active developments surrounding Ripple and potential regulatory changes, XRP's price remains unresponsive to news, dropping 0.7% in the last 24 hours. Investors are waiting for clearer signals from Washington before making any moves in the market.
Brad Garlinghouse's testimony in the Senate highlights the importance of discussing crypto regulation in the U.S. The issues raised in the context of the CLARITY bill may significantly impact the future of digital assets.
