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Ripple CEO Releases XRP Bombshell He Prepares for Today’s Senate Hearing
Ripple CEO Brad Garlinghouse has released his testimony in advance of today’s Senate hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. In a bold move, Garlinghouse addresses the ongoing challenges surrounding regulatory ambiguity in the digital asset sector.
Garlinghouse begins by emphasizing Ripple’s founding mission: to enable the Internet of Value, where money moves as effortlessly as information. He notes that Ripple leverages XRP and the XRP Ledger, which he describes as a battle-tested open-source blockchain for facilitating payments, offering fast, low-cost, and highly scalable transactions. The CEO highlights that Ripple’s blockchain infrastructure and global reach have demonstrated real-world utility through cross-border payments and digital asset custody.
However, Garlinghouse also touches on the absence of clear regulatory rules in the U.S., which he believes is stifling innovation. He emphasizes that Ripple’s XRP Ledger technology has the potential to enable fast and scalable transactions for cross-border payments, offering a competitive advantage over SWIFT, a legacy player in international payments.
The CEO expresses his desire to work with policymakers, citing more than 60 licenses obtained by Ripple in the U.S. and other parts of the world. Garlinghouse revisits Ripple’s legal battle with the Securities and Exchange Commission (SEC), which began with an enforcement action targeting XRP in 2020. He claims that the court decision ultimately cleared the path for others to fight back.
Garlinghouse believes this ruling should have set a clear precedent, ending what he calls a “regulation-by-enforcement campaign.” He urges the Senate to prioritize passing legislation for digital assets, arguing that clear rules are essential to make the U.S. the crypto capital of the world.
In an apparent call to action, Garlinghouse shared his full testimony on social media, stating: “My full testimony for the hearing is available here: https://t.co/NHTh8wKQMc”
The full testimony can be accessed at the provided link, where it is expected to provide additional insight into Ripple’s stance on regulatory issues and its vision for the future of cryptocurrency.
Source: timestabloid.com
