Ripple CEO Brad Garlinghouse has thrown his full support behind a new crypto market structure bill advanced by the U.S. Senate Agriculture Committee, branding it a "game-changer" for the industry. He argues the legislation delivers the regulatory clarity long missing from the digital asset space, potentially ending years of confusion pitting the SEC against the CFTC.
Bill Highlights: CFTC Gets More Power, SEC Steps Back
The bill empowers the Commodity Futures Trading Commission (CFTC) to oversee digital commodities and set rules for spot markets. It also mandates consumer protections such as fund segregation and compulsory disclosures, while drawing clear boundaries between CFTC and SEC jurisdictions. Garlinghouse said this division would stop the two agencies from fighting over turf, sparing firms from legal limbo.
Ripple itself remains locked in a long-running SEC lawsuit over whether XRP sales constitute unregistered securities. Garlinghouse emphasized that the new framework would give companies like his a clear compliance path and protect software developers from frivolous litigation. "With clear rules, the industry can finally move forward," he said, urging lawmakers to speed up the legislative process.
Turning Point: From Lawsuits to Global Competition
Garlinghouse sees the bill as a critical bridge connecting crypto to mainstream finance. He noted that U.S. regulatory uncertainty had driven innovation offshore, but the bill could reverse that trend by offering predictable rules for entrepreneurs and investors. Meanwhile, Ripple is doubling down on global expansion: it has partnered with Saudi fintech Jeel to promote blockchain in financial services, and Turkey's Garanti BBVA Kripto has adopted Ripple's technology to custody XRP, Bitcoin, and Ethereum.
The CEO argued the legislation would not only protect domestic players but also position the U.S. as a global hub for crypto innovation. "Let's stop letting lawsuits define our fate," he said. "Let rules drive growth."
Hill Advocacy: CEO Testifies Before Congress
Garlinghouse has already appeared before the U.S. Senate Banking Committee to make the case for the crypto market structure bill. He told senators that unclear rules have discouraged traditional financial institutions from embracing digital assets, while consistent oversight could restore trust among consumers, investors, and payment providers. Framing regulation as an enabler rather than a constraint, he stressed the bill strikes a balance between investor protection and industry growth.
According to 36crypto, Garlinghouse's testimony drew bipartisan attention. He warned that if the U.S. continues to drag its feet, talent and capital will flow to more crypto-friendly jurisdictions. The bill now heads to a full Senate vote after committee approval. Garlinghouse vowed to keep lobbying, calling the moment a "historic opportunity" that must not be squandered.