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- Garlinghouse blasted the U.S. for ten years of unclear crypto laws pushing growth offshore.
- He urged Congress to act fast, warning America risks falling behind in global blockchain leadership.
Ripple CEO Brad Garlinghouse released a written testimony on July 9 ahead of his scheduled appearance before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. The statement focused on the long-standing regulatory uncertainty surrounding digital assets in the United States.
As XRP traded at $2.32 with a 2.95% daily gain, the timing of the testimony added momentum to the token’s rise.
Garlinghouse addressed the Senate with strong criticism toward what he described as a decade-long lack of regulatory clarity. He stated that this gap has forced innovation, investment, and jobs to move overseas.
At Ripple, we’ve seen firsthand how the lack of clear rules of the road can be weaponized to target good actors, he wrote.
According to him, this trend has weakened American oversight and increased consumer exposure to risky environments.
The CEO reminded lawmakers of Ripple’s early mission—to create an “Internet of Value,” where money could move as easily as information. He described Ripple’s global reach and use of the XRP Ledger to facilitate fast, low-cost cross-border payments.
Garlinghouse also underlined XRP’s technical strength, calling it a “battle-tested open-source blockchain” designed for scalability and performance.
My full testimony for the hearing is available here: https://t.co/NHTh8wKQMc
— Brad Garlinghouse (@bgarlinghouse) July 8, 2025
Ripple’s Legal Win — Still No Clear Path for Crypto
Garlinghouse pointed to Ripple’s own case with the U.S. Securities and Exchange Commission. The SEC filed an enforcement action against Ripple in 2020, alleging that XRP was an unregistered security. The court’s ruling in Ripple’s favor became a turning point. “We prevailed,” he stated, stressing that the judgment should have prevented further regulatory overreach.
He shared that Ripple now holds over 60 licenses across the U.S. and internationally. However, in his view, fragmented policies and unclear roles between agencies continue to harm both investors and developers. This lack of structure not only undermines local industry players but also jeopardizes the country’s ability to lead in a fast-developing global market.
Garlinghouse strongly urged Congress to pass structured legislation such as the GENIUS Act, which recently cleared a legislative hurdle. He believes such bills will set clear lines of authority, promote innovation, and still maintain protections for consumers.
He called for “clear jurisdictional boundaries for regulators” and a defined path for digital assets to operate legally in the U.S.
55 million Americans Already Using Crypto, Says Garlinghouse
Garlinghouse’s statement also attempted to change public perception. He referenced a video showing real stories of Americans who were initially doubtful of crypto but eventually embraced it. His goal, he said, is to challenge old stereotypes and give clarity to over 55 million Americans already participating in the crypto economy.
Closing his address, Garlinghouse argued that a legal structure would unleash new efficiencies in the financial system. He believes this could help both businesses and individual users. “There is no reason we should not be the undisputed leader in digital assets and blockchain,” he said, backing the idea that legislation will serve as a foundation for global leadership.
As his remarks reached the public, XRP showed renewed bullish momentum. In the previous analysis, CNF reported that the $2.40 level acts as a major resistance zone. A confirmed breakout could push XRP toward $2.75 or even $3.
