The CEO of Ripple will testify at a U.S. Senate hearing on digital asset markets.

AI Summary

According to PANews, Ripple CEO Brad Garlinghouse is scheduled to testify at a hearing of the U.S. Senate Banking Committee on July 9, Wednesday. The hearing, titled 'From Wall Street to Web3: Building the Future Digital Asset Markets', will be streamed live online.

This hearing is a significant step in the legislative process driven by the Senate Subcommittee on Digital Assets, focusing on the GENIUS Stablecoin Act and the CLARITY Market Structure Act. The aim is to clarify the regulatory roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

Garlinghouse emphasized on social media the importance of the U.S. establishing constructive legislation regarding the structure of the cryptocurrency market. He pointed out that such legislation is crucial to pave the way for a new era of innovation and financial opportunities while ensuring consumer protection.