Ripple CEO Brad Garlinghouse has confirmed his participation in a U.S. Senate hearing discussing legislation regarding digital assets.
Garlinghouse to Testify in Senate
Garlinghouse announced on his post on X that he has been invited to testify before the U.S. Senate Banking Committee on July 9. He expressed gratitude to Senators Tim Scott, Ruben Gallego, and Cynthia Lummis for the initiative to establish the subcommittee on digital assets. Garlinghouse will appear alongside other industry representatives.
SEC's Progress on Crypto Regulation
The upcoming hearing comes amid significant changes in the Securities and Exchange Commission’s (SEC) approach to cryptocurrency. The Commission has begun collaborating with the industry by issuing guidance on company disclosures for digital assets.
Significance of the Upcoming Hearing
The hearing will focus on legislative initiatives like the GENIUS Act, aimed at improving the structure of the digital asset market. These initiatives aim to position the U.S. as a leader in the cryptocurrency space.
Garlinghouse's testimony in the Senate could significantly impact the future of cryptocurrency regulation in the U.S. and the development of legislation in this area.
