Ripple CEO Brad Garlinghouse will testify before the U.S. Senate Banking Committee on July 9, advocating for clear crypto market structure legislation. The hearing, ‘From Wall Street to Web3,’ will include discussions on the GENIUS ACT, which mandates 100% reserve backing for stablecoins, and the CLARITY Act, aiming to define crypto tokens as securities or commodities. Garlinghouse’s testimony underscores Ripple’s push for regulatory clarity, especially for XRP, amid ongoing legal battles with the SEC. Ripple is also seeking a national bank charter and a Federal Reserve master account, positioning itself as a crypto-native firm with FDIC-insured services. The outcome could shape the future of crypto regulation in the U.S., with XRP’s price showing modest gains ahead of the hearing.
about Ripple CEO to Testify on Crypto Legislation Before SenateDan Robinson
0 posts last weekRipple CEO Testifies as XRP Faces SEC or CFTC Oversight
Ripple CEO Brad Garlinghouse will testify before the Senate Banking Committee on July 9, addressing the need for crypto market structure legislation. The hearing coincides with XRP forming a bullish inverse head-and-shoulders pattern, suggesting a potential 12% price surge. Meanwhile, Ripple’s legal battle with the SEC continues, with a denied settlement motion and lingering questions over XRP’s classification. The Senate hearing precedes ‘Crypto Week,’ where lawmakers will discuss key bills, including the CLARITY Act, which could define XRP’s regulatory status. A favorable ruling could place XRP under CFTC oversight, providing clarity for investors and the broader crypto market.
about Ripple CEO Testifies as XRP Faces SEC or CFTC OversightDeFi Growth Surge in 2024 Driven by Memecoins and AI Innovations
Decentralized Finance (DeFi) experienced remarkable growth in 2024, with a 485% increase in daily users and active wallets reaching 24.6 million. Memecoins and AI agents played pivotal roles in attracting newcomers and automating tasks, while innovations in blockchain technology and regulatory clarity, including the European Union’s MiCA regulation and the SEC’s approval of Bitcoin and ETH ETFs, further strengthened the sector. Looking ahead, advancements like zero-knowledge proofs and the tokenization of Real-World Assets promise to enhance DeFi’s security and integration with traditional finance.
about DeFi Growth Surge in 2024 Driven by Memecoins and AI Innovations