Ripple CEO Brad Garlinghouse has announced he will testify before the U.S. Senate Banking Committee this Wednesday. His appearance comes just days before the House of Representatives kicks off its highly anticipated “Crypto Week” on July 14. In a post shared on X (formerly Twitter), Garlinghouse emphasised the importance of this hearing, describing it as a pivotal moment to advocate for regulatory clarity in the crypto space.

Garlinghouse will use the Senate hearing, titled “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets,” to advocate for the passage of the CLARITY Act. The proposed legislation seeks to define which U.S. regulatory agency either the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC), should oversee various segments of the digital asset market. Garlinghouse believes the bill will not only offer clear guidelines but also protect consumers while boosting innovation.

Key Industry Players to Join the Discussion

The Senate hearing will feature other significant voices in the digital asset industry. Speakers include Summer Mersinger of the Blockchain Association, Chainalysis CEO Jonathan Levin, and Paradigm’s Head of Research, Dan Robinson. Together, they aim to present a united front in favour of well-structured crypto legislation.

Related article: Could an XRP Spot ETF Approval Send Ripple to New Highs? What Investors Should Know

Meanwhile, the U.S. House is set to debate three major bills during Crypto Week: the GENIUS Stablecoin Bill, the CLARITY Market Structure Bill, and the Anti-CBDC Surveillance State Bill. These proposals aim to establish how U.S. courts and regulators will treat digital assets in the years ahead. The timing of Garlinghouse’s testimony could heavily influence how lawmakers vote.

Ripple’s Legal Saga Nears an End

Garlinghouse’s Senate testimony also coincides with significant developments in Ripple’s ongoing legal battle with the SEC. Both parties recently submitted a joint motion requesting to reduce Ripple’s $125 million penalty and dismiss the case. However, Judge Analisa Torres rejected the motion, insisting that no external agreement can undo the court’s previous rulings. Despite this, Ripple withdrew its cross-appeal, and the SEC is widely expected to follow suit soon.

Related article: Ripple CEO Unveils RLUSD Integration with Hidden Road Platform

Despite these key developments, XRP’s price remains essentially unchanged. The token has dipped 0.7% in the past 24 hours, indicating that investors are still awaiting concrete policy signals from Washington before adjusting their positions.