Imagine a world where the great and powerful Brad Garlinghouse, CEO of the mystical land of Ripple, is about to face the mighty U.S. Senate Banking Committee for the very first time. On the magical date of July 9, Garlinghouse and his fellow wizards will cast a spell to convince the lawmakers that the country desperately needs clear rules for the crypto market. 🧙♂️💰
Pushing for Clear Crypto Rules, or Should We Say, Enchanted Guidelines?
In a recent tweet, Garlinghouse announced that he feels as honored as a knight being knighted by the king to speak directly to the lawmakers about why the U.S. needs proper rules for digital assets. He also took a moment to thank the noble senators Tim Scott, Cynthia Lummis, and Ruben Gallego for leading the charge and supporting crypto-friendly rules. 🛡️📜
He believes that strong but fair rules can protect the common folk and still let new ideas sprout like magic beans. 🌱✨
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. Thank you to @BankingGOP Chairman @SenatorTimScott, @SenLummis and @SenRubenGallego (as leaders of the Subcommittee for…
— Brad Garlinghouse (@bgarlinghouse) July 7, 2025
For years, Ripple and many other crypto companies have been on a quest to find clear laws that explain which digital coins are treated like stocks (securities) and which are seen as goods (commodities). Right now, it’s often as confusing as a riddle in a wizard’s book for crypto companies to know which agency they should answer to—the SEC or the CFTC. 📜🔍
Key Crypto Bills on the Table, or the Magical Scroll of Laws
Meanwhile, this hearing comes as Congress is looking at three big bills: the CLARITY Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act. Together, these could finally bring clear rules for how crypto companies, brokers, and exchanges work. 📜📜📜
One of the biggest pieces is the CLARITY Act. It aims to settle the great debate over whether the SEC or the CFTC should control different digital coins. Senator Tim Scott has hinted that this bill could even pass by October if all goes well. 🌟📚
Who Else Will Speak, or the Gathering of the Wise?
Brad won’t be alone in this important hearing. Other speakers include the wise Chainalysis CEO Jonathan Levin, the clever Blockchain Association CEO Summer Mersinger, and a top Harvard expert. They will share why smart rules matter and how they can help the U.S. stay ahead in the global crypto space. With clear rules, crypto companies can keep building and people can feel safer investing. 🏛️🌟
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2025-07-08 11:29