The post XRP News – Brad Garlinghouse Reveals Ripple’s 3 Demands for U.S. Crypto Regulation appeared first on Coinpedia Fintech News
The XRP Lawsuit is finally approaching the finish line. Ripple has already dropped its cross-appeal, and now everyone’s waiting to see if the SEC will officially withdraw theirs. If that happens, the years-long legal battle could wrap up in a matter of days or weeks. Regulatory clarity is finally within reach, and the future for XRP is starting to look a lot clearer.
Ripple CEO Brad Garlinghouse is all set to testify before the Senate today with a sharp focus on XRP and regulatory clarity in the U.S. He has shared his full testimony ahead of the hearing.
In the testimony, Brad highlights Ripple’s decade-long mission to build an “Internet of Value,” where money moves seamlessly like information. He also stressed Ripple’s compliance-first approach, highlighting over 60 licenses and ongoing work with regulators.
Ripple vs. SEC: A Legal Battle Close To Being Resolved
As per the Ripple CEO, smart crypto regulation should protect consumers, keep bad actors in check, make sure markets are well overseen, and still leave room for innovation. He also pointed out the damage that was caused due to years of regulatory uncertainty, which drove innovation and jobs offshore. He notes that Ripple was the first major U.S. crypto company that was sued by the SEC in 2020.
Brad Outlines 3 Key Priorities Ahead
After a four-year legal battle, Ripple won a landmark ruling: the court determined that XRP is not a security. He underscored that the win was not just a victory for Ripple but for the entire U.S. crypto industry.
Despite these challenges, Ripple continues to engage with lawmakers and regulators, stressing the need for smart and clearer crypto rules. He has outlined three key priorities for Congress: Firstly, clearly define the roles of financial regulators, secondly, create safe pathways for companies to innovate in the U.S., and finally, a real plan to ensure that the U.S. can be a global crypto leader.
Brad says that the U.S. has everything it needs to lead in the blockchain. With over 55 million Americans involved in crypto and a $3.4 trillion market cap, a clear regulatory framework is long overdue.
Brad Urges to Push CLARITY Act Forward
He also called on the Senate to prioritize passing the crypto market structure bill (The CLARITY Act) for digital assets. This would spark a new wave of innovation and bring major benefits to both consumers and businesses. Ripple, he added, is ready to work with lawmakers to help make that future a reality.
Tomorrow, on July 10th, the SEC will hold a closed-door meeting. There are growing speculations that it could be related to Ripple, and a final resolution could be near.