Ripple CEO Sounds Alarm: U.S. Crypto Leadership at Risk Without Senate Action

The clock's ticking—and America's losing.

Ripple's chief executive fired a warning shot across the bow of Capitol Hill this week, demanding urgent regulatory clarity before the U.S. gets lapped in the global crypto race. The plea comes as lawmakers dawdle while Singapore, Switzerland, and even Dubai eat Washington's lunch.

Here's the brutal truth: every day of bureaucratic foot-dragging sends another blockchain project fleeing to friendlier shores. Venture capital follows the talent—and right now, both are sprinting toward jurisdictions that don't treat crypto like a radioactive contagion.

Meanwhile, the SEC keeps playing whack-a-mole with enforcement actions while actual financial innovation happens overseas. (But hey, at least Wall Street's legacy systems get to enjoy their last gasp of monopoly pricing.)

The verdict? Either Washington gets its act together fast, or the next decade of financial infrastructure gets built somewhere else—with somebody else's rules.

• Brad Garlinghouse highlighted the urgent need for smart crypto legislation during Senate testimony.
• Ripple’s legal win against the SEC marked a turning point for the broader industry.
• Clear rules could help the U.S. reclaim leadership in blockchain innovation.

Ripple CEO Brad Garlinghouse appeared before the Senate Banking Committee today, calling attention to the lack of regulatory clarity in the U.S. crypto market. Addressing Chair Tim Scott, Ranking Member Elizabeth Warren, and other committee members, Garlinghouse opened with a statement on Ripple’s core vision.

He emphasized the firm’s decade-long mission to power the “Internet of Value,” facilitating frictionless money movement through software-based financial solutions.

My full testimony for the hearing is available here: https://t.co/NHTh8wKQMc

The company, which has almost 900 employees operating in 15 offices globally, provides cross-border payment technology, stablecoins, and digital currency storage. Its cornerstone technology is the XRP Ledger, which is an open-source blockchain that enables rapid, scalable, and low-cost settlements.

Garlinghouse emphasized compliance-first, referencing more than 60 licenses that Ripple possesses globally. Ripple’s strategy, he continued, was cooperation, not confrontation, with regulators.

SEC Lawsuit and Court Victory Reignite Industry Hope

Ripple CEO reopened his firm’s 2020 disagreement with the SEC. The argument made the company the first major U.S. cryptocurrency firm to be prosecuted within the SEC’s aggressive campaign of enforcement.

Garlinghouse explained that the action gave rise to a murky climate not just for Ripple but for the digital assets marketplace as a whole.

Following years of litigation, the decision was in favor of the company. It found that XRP, on its own, wasn’t a security. The ruling boosted other cryptocurrency entities, which challenged respective enforcement actions.

Garlinghouse presented the victory not merely as a corporate triumph, but also as a victory for innovation over regulatory excess.

Ripple Calls for Jurisdictional Clarity and U.S. Crypto Leadership

Garlinghouse emphasized that there should be immediate legislative reform. His message was clear: without properly defined rules, the United States will lose its advantage to foreign markets.

He urged Congress to pass a bill that establishes clear regulatory power, promotes innovation that does not diminish investor protections, and reestablishes the United States as the global leader in digital assets as its highest priority.

He pointed out that over 55 million Americans are already in the cryptocurrency world, driving a worldwide market cap that’s now over $3.4 trillion.

Despite such numbers, the lack of clear regulations has pushed talent, capital, and technology offshore. Garlinghouse concluded that smart legislation will not just safeguard consumers but will also spur job creation and economic growth.