With a flourish of legislative finesse, the United States could secure its throne in the realm of blockchain, igniting a bonfire of crypto growth and global supremacy in digital assets.
Ripple CEO’s Plea for Swift US Crypto Legislation
In a scene reminiscent of a parliamentary debate, Ripple CEO Brad Garlinghouse addressed the U.S. Senate Committee on Banking, Housing, and Urban Affairs, advocating for immediate congressional action to establish clear digital asset market rules. With the aplomb of a seasoned orator, Garlinghouse painted a picture of the U.S. as the potential epicenter of digital asset innovation, a beacon of consumer protection, and a revitalized financial infrastructure, all while the rest of the world watches with bated breath and a hint of envy. 🏛️💰
Despite Ripple’s commendable efforts to navigate the murky waters of regulation, Garlinghouse lamented that the U.S. is still adrift in a sea of legal uncertainty, which, he argued, is driving crypto innovation to more welcoming shores. He pointed out that over 55 million Americans are already part of the crypto economy, contributing to a staggering $3.4 trillion market. With a touch of dramatic flair, he outlined the legislative priorities for Congress, including the crucial task of defining agency jurisdiction and ensuring that businesses can innovate without compromising investor protections. 🚀💼
The U.S. boasts the world’s deepest capital markets, the most advanced technical talent, and the spirit of innovation that has fueled our nation since its inception. There is no earthly reason why we should not be the undisputed leader in digital assets and blockchain. 🇺🇸✨
Recalling Ripple’s prolonged legal tussle with the U.S. Securities and Exchange Commission (SEC), Garlinghouse highlighted the significance of Ripple’s 2023 court victory, which decisively ruled that XRP is not a security. He noted that Ripple, with its nearly 900 employees and 15 offices worldwide, operates on a compliance-first model, leveraging the XRP Ledger—a decentralized, open-source blockchain—to facilitate global payments. XRP, the native digital asset, was meticulously designed to enable fast, cost-efficient, and highly scalable transactions. 🌐💸
Garlinghouse concluded his impassioned plea with a call to action:
On behalf of the entire crypto industry, I urge you to prioritize the passage of market structure legislation for digital assets through this Committee and the full Senate. Let us provide the rules and regulations needed to ensure that the U.S. becomes the crypto capital of the world. 🏆🌍
“Once market structure legislation for digital assets becomes law in the U.S., it will herald a new era of U.S. competitiveness, unlocking efficiencies in financial transactions and dramatically benefiting consumers and businesses alike. Ripple stands ready to work with you to make this vision a reality,” he added, with a nod to the future and a wink to the present. 🌟🤝
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2025-07-14 03:57