Ripple CEO to Testify as Senate Debates Crypto Bills

- Senate to debate pivotal crypto regulations and stablecoin frameworks. - Ripple, Blockchain Association leaders join heated testimony on July 8. On July 8, 2025, the U.S. Senate Banking Committee will hold a key hearing on legislation that could reshape digital asset markets. The hearing, titled "From Wall Street to Web3: Building Tomorrow's Digital Asset Markets," will feature testimony from major players like Ripple CEO Brad Garlinghouse. Other speakers include Blockchain Association CEO Summer Mersinger, former CFTC Chair Timothy Massad, and Chainalysis CEO Jonathan Levin. According to reports from Cointelegraph, TradingView, and Blockzeit on July 8, the hearing is highly significant as lawmakers advance crypto regulations poised to redefine the U.S. cryptocurrency landscape. This high-stakes discussion follows recent congressional activities that have set the stage for reform. For instance, the Senate passed the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, while in the House of Representatives, a "Crypto Week" addressed three crucial bills. One of these, the Digital Asset Market Clarity (CLARITY) Act, aims to establish clearer frameworks for asset classification and oversight, and lawmakers also debated proposed measures to limit the development of a central bank digital currency (CBDC). The hearing underscores Washington's growing focus on digital asset regulation. In her prepared testimony, Blockchain Association CEO Summer Mersinger will emphasize the need for bipartisan frameworks to ensure U.S. leadership in financial innovation. Ripple’s Brad Garlinghouse will advocate for practical crypto regulations, marking one of the company’s most assertive moves in policy engagement. Additionally, former White House ethics lawyer Richard Painter will address ethics concerns by examining potential conflicts tied to former President Trump’s purported connections to the crypto sector. Market figures appear to reflect the deepening legislative scrutiny. According to CoinMarketCap data on July 8, XRP (XRP) traded at $2.314 at 20:16 UTC, representing a 1.41% rise in 24-hour trading volume. Meanwhile, World Liberty Financial USD (USD1) remained at $1.00, showing a slight 0.017% decline. These varied figures illustrate the market's ongoing reaction to the evolving digital asset landscape.