Robust legislation could decisively position the U.S. as the global hub for digital asset innovation while protecting consumers and revitalizing financial infrastructure, Ripple CEO Brad Garlinghouse told lawmakers. Speaking at the U.S. Senate Committee on Banking, Housing, and Urban Affairs hearing last week, Garlinghouse called for immediate congressional action to establish clear digital asset market rules.

Despite Ripple’s proactive approach to regulation, Garlinghouse said the U.S. remains mired in legal uncertainty that forces crypto innovation offshore. Highlighting that more than 55 million Americans already participate in the crypto economy, contributing to a $3.4 trillion market, he then outlined legislative priorities for Congress, including defining agency jurisdiction and ensuring businesses can innovate without risking investor protections. The Ripple CEO stated:

The U.S. possesses the world’s deepest capital markets, the most advanced technical talent, and the spirit of innovation that has powered our nation since its founding. There is no reason we should not be the undisputed leader in digital assets and blockchain.

Recounting the firm’s multi-year legal battle with the U.S. Securities and Exchange Commission (SEC), he emphasized the significance of Ripple’s 2023 court victory, which affirmed that XRP itself is not a security. He noted that Ripple, which has nearly 900 employees and 15 offices worldwide, is built on a compliance-first model and uses the XRP Ledger—a decentralized, open-source blockchain—to power global payments. XRP, its native digital asset, was designed to enable fast, cost-efficient, and highly scalable transactions.

Garlinghouse closed his remarks by urging swift legislative action:

Speaking 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, to 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., this will catalyze a new era of U.S. competitiveness and unlock efficiencies in financial transactions—dramatically helping consumers and businesses alike. Ripple hopes to see this become a reality, and we look forward to working with you to help make this happen,” he added.

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