Ripple CEO Breaks Silence Ahead of Crypto Week and Pivotal Senate Hearing

• Ripple CEO to push for crypto clarity ahead of key Senate hearing.
• Lawmakers prepare to debate CLARITY bill during upcoming Crypto Week discussions.
• XRP price remains flat despite Ripple’s legal and regulatory developments gaining traction.

Ripple CEO Brad Garlinghouse has confirmed he will testify before the U.S. Senate Banking Committee this Wednesday, just days ahead of the House’s much-anticipated Crypto Week. His remarks will focus on the urgent need for regulatory clarity in the digital asset industry.

According to Garlinghouse, who posted the update on X, the hearing presents a key opportunity to push for legislative progress. He reiterated the importance of a well-defined regulatory regime to help safeguard consumers and encourage innovation in the United States.

It will be a hearing called From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets, and it will feature key participants in the crypto arena. In addition to Garlinghouse, speakers include Summer Mersinger of the Blockchain Association, Chainalysis CEO Jonathan Levin, and Dan Robinson of Paradigm.

Also Read: BlackRock’s IBIT Shocks Market After Snapping Up 700,000 Bitcoin Fast

CLARITY Bill Takes Center Stage Ahead of House Deliberations

Garlinghouse’s testimony will center on the proposed CLARITY bill, which aims to define the roles of U.S. regulators in overseeing crypto markets. The bill seeks to address lingering questions over whether digital assets fall under the jurisdiction of the Securities and Exchange Commission or the Commodity Futures Trading Commission.

This legislative push gains importance ahead of Crypto Week, which begins July 14. The House lawmakers will debate three significant bills on crypto, including the GENIUS stablecoin bill, the CLARITY market structure bill, and the Anti-CBDC Surveillance State bill.

These suggestions seek to define how digital assets will be handled in court in the future in the U.S.

Garlinghouse’s appearance also comes as Ripple works to close a long-standing legal battle with the SEC. Recently, both parties submitted a joint motion to dismiss the case and lower Ripple’s penalty, which was set at $125 million.

Judge Analisa Torres, however, refused the request, claiming that any outside arrangement cannot reverse court decisions.

Ripple went further to dismiss its cross-appeal, and the SEC is likely to follow suit. Such developments put increased emphasis on the outcome of the next Senate hearing and legislative proceedings.

Despite the buzz, XRP’s price has not reacted, slipping 0.7% in the last 24 hours. Investors are awaiting clearer signals from Washington before making moves.

Also Read: XRP on the Edge: Bollinger Band Squeeze Hints at Massive Price Move

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