Ripple CEO and Former Regulators to Testify Before Senate on Crypto Market Structure
The U.S. Senate is preparing for a pivotal hearing on the future of digital asset regulation, with Ripple CEO Brad Garlinghouse and a lineup of prominent figures from the blockchain and finance sectors scheduled to testify before the Senate Banking Committee this Wednesday.
This comes as Congress inches closer to enacting comprehensive crypto legislation — potentially reshaping the legal and financial landscape for digital assets in the United States.
Key Witnesses to Shape Legislative Outlook
Appearing before lawmakers are:
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Brad Garlinghouse, CEO of Ripple
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Summer Mersinger, CEO of the Blockchain Association and former CFTC commissioner
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Timothy Massad, former Chair of the Commodity Futures Trading Commission (CFTC)
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Jonathan Levin, CEO of Chainalysis
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Richard Painter, former White House ethics lawyer
These individuals will offer insight into how the U.S. should regulate crypto markets, at a time when both innovation and investor protection are under scrutiny.
“We are at a critical inflection point,” said Mersinger in prepared testimony. “The choice before us is not whether to regulate this industry, but how. Sensible, bipartisan legislation could cement the U.S. as a global leader in financial innovation.”
Senate and House Set for “Crypto Week”
The hearing comes just days after Republican leaders in the House of Representatives announced that they would address three major crypto bills during what they’ve dubbed “Crypto Week,” starting Monday. Among the legislation under consideration:
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GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) – passed by the Senate in June
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CLARITY Act (Digital Asset Market Clarity) – currently under House review
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Anti-CBDC Bill – aimed at halting any development of a U.S. central bank digital currency
The Senate hearing is expected to serve as a preview of how upper chamber lawmakers may engage with market structure proposals in the coming months, especially with leadership aiming to pass crypto regulation by October.
Ripple’s Growing Role in Washington
The hearing marks one of Garlinghouse’s first direct appearances before Congress, highlighting Ripple’s expanding involvement in policy circles. The company, which remains in litigation with the SEC, has also emerged as a notable political donor — contributing $5 million in XRP to former President Donald Trump’s inaugural fund.
Garlinghouse previously attended a White House crypto summit in March, further reinforcing Ripple’s policy ambitions.
Political Tensions Around Crypto Legislation
However, the hearing may also touch on rising concerns about conflicts of interest in digital asset policymaking.
Witness Richard Painter is expected to raise ethical questions around Trump’s crypto-related ventures, including:
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Trump’s personal memecoin, launched in January 2025
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His and his family’s ties to World Liberty Financial, the issuer of the USD1 stablecoin
These concerns previously influenced the legislative process. During the Senate’s first vote on the GENIUS Act in May, several Democratic senators temporarily withdrew support, citing Trump’s undisclosed connections to the crypto industry. Though the bill ultimately passed, tensions around political influence in digital asset regulation remain.
As the U.S. moves toward regulatory clarity in crypto, this week’s testimony will likely shape the trajectory of future laws — with bipartisan cooperation and ethical transparency emerging as critical themes in the path forward.
