Brad Garlinghouse Calls for Clear Crypto Regulations at U.S. Senate Banking Hearing to Foster Innovation
- Mathew Jacob
- Jul 9
- 3 min read
During a U.S. Senate Banking Committee hearing on July 9, 2025, Ripple CEO Brad Garlinghouse emphasized the critical need for clear and comprehensive regulations for digital assets in the U.S. His testimony, delivered as part of a discussion titled “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets,” marked an important moment in the ongoing debate over the future of cryptocurrency regulation in the country.
Garlinghouse opened his testimony by underlining the necessity of a well-defined regulatory framework that fosters innovation in the digital asset space, pointing out that the current ambiguity has led to significant challenges for companies in the sector. He explained that Ripple, which has already secured more than 60 licenses globally to operate as a crypto and payment services provider, remains committed to compliance. However, he warned that the lack of clarity in U.S. regulations has pushed many crypto projects and jobs offshore, undermining the country’s competitive edge.
“The absence of clear rules is pushing technology, jobs, and tax revenue out of the U.S.,” Garlinghouse stated. “Consumers are being put at risk because of the lack of protections, and American innovation is being stifled.”
He continued by stressing that the U.S. could lose its leadership in the global crypto market if policymakers do not act soon. Garlinghouse urged lawmakers to pass comprehensive market structure legislation that sets clear jurisdictional boundaries for the various financial regulators overseeing the crypto industry. He also called for the creation of clear pathways for companies to innovate within the country while ensuring proper investor protections.
Ripple's approach to regulatory compliance was another key focus of Garlinghouse’s testimony. He pointed out that Ripple has been proactive in obtaining licenses worldwide, allowing the company to operate in multiple jurisdictions while adhering to local regulatory standards. This strategy, he argued, could serve as a model for other companies, but only if the U.S. government acts decisively to create a clear regulatory framework.
Garlinghouse’s remarks align with the broader efforts of industry stakeholders who have been pushing for a regulatory framework that offers transparency and fairness. The global cryptocurrency market, which continues to grow rapidly, requires stable and reliable regulations to thrive, especially given its cross-border nature.
The Ripple CEO also made the case for the U.S. to remain at the forefront of global crypto innovation. He warned that without clear regulations, the country risks falling behind other nations that are moving forward with crypto-friendly policies. “We have the potential to remain the leader in this space, but that leadership will be lost if we fail to act now,” he said.
Garlinghouse’s testimony adds to the growing pressure on U.S. lawmakers to address the challenges facing the crypto industry. It also comes at a time when the U.S. Securities and Exchange Commission (SEC) and other regulatory bodies continue to grapple with the issue of how to treat digital assets under existing laws. The push for clearer guidelines has become even more urgent as countries around the world look to create more favorable environments for cryptocurrency businesses.
As the Senate Banking Committee hearing concluded, Garlinghouse’s call for action resonated across the crypto community. Industry leaders are hopeful that his testimony will help galvanize efforts toward a more defined and supportive regulatory environment in the U.S.
For more details on Garlinghouse's testimony, you can read his prepared remarks and watch the full hearing through the official Senate Banking Committee channels.
