Ripple CEO Garlinghouse Urges Senators to Pass Crypto Market Bill, Backs Bessent

Garlinghouse warns lawmakers against derailing digital asset legislation and voices support for Treasury Secretary Scott Bessent.

Ripple CEO Brad Garlinghouse has called on U.S. senators not to derail crypto legislation currently before Congress. His remarks, reported on September 15, frame the bill as a critical step toward regulatory clarity for the digital asset industry.

Garlinghouse laid out reasons why he believes the legislation deserves passage, according to the reports. He also voiced backing for Treasury Secretary Scott Bessent, aligning Ripple's public stance with the administration official overseeing key financial policy decisions.

The crypto industry has spent years pushing Congress for clearer rules covering how digital assets are classified and regulated. Ripple itself fought a lengthy legal battle with the U.S. Securities and Exchange Commission over whether its XRP token qualified as a security. That fight made the company one of the most vocal advocates for legislative clarity rather than regulation through enforcement.

A comprehensive market structure bill has been a long-sought goal for crypto firms, exchanges, and trade groups. Supporters argue such legislation would define which agency, the SEC or the Commodity Futures Trading Commission, holds primary jurisdiction over various digital assets. Without that clarity, companies have said they face uncertainty over compliance, product design, and where to base operations.

Garlinghouse's intervention adds a prominent industry voice to an ongoing legislative debate playing out in the Senate. Executives across the sector have periodically weighed in publicly when bills reach pivotal stages, seeking to build momentum or counter opposition. His comments suggest the bill faces some resistance or uncertainty among senators, prompting the public appeal.

Bessent's role at Treasury has placed him at the center of the administration's approach to digital asset policy. His public positioning on stablecoins, custody rules, and broader crypto oversight has drawn attention from both industry participants and lawmakers. Garlinghouse's expressed support for Bessent signals alignment between Ripple's policy priorities and the Treasury's current direction.

The timing of these remarks matters. Crypto market structure legislation has moved through various committee stages over recent years, with prior attempts stalling before reaching a floor vote. Industry executives have grown more vocal as the current bill approaches a critical juncture in the Senate.

Ripple has positioned itself as a leading advocate for U.S. crypto regulation partly because of its own experience with regulatory ambiguity. The company's years-long litigation with the SEC left it wary of relying on enforcement actions to define the rules governing digital assets. Garlinghouse has repeatedly argued that legislation, rather than case-by-case enforcement, offers a more durable framework for the industry.

Market Impact

Passage of a crypto market structure bill could reshape how exchanges, issuers, and custodians operate under U.S. law. Clearer jurisdictional lines between the SEC and CFTC would likely reduce compliance uncertainty that has pushed some crypto activity offshore. Ripple and similar firms have argued this clarity could encourage more institutional participation in digital asset markets.

Conversely, continued delays or a failure to pass the bill could prolong the current patchwork of enforcement-driven regulation. That outcome would leave companies operating under legal ambiguity, a condition executives like Garlinghouse have repeatedly cited as harmful to U.S. competitiveness in the crypto sector.

Garlinghouse's public appeal underscores how closely the crypto industry is watching the Senate's next moves on market structure legislation. Whether lawmakers heed calls from executives and Treasury officials alike will shape the regulatory environment for digital assets in the U.S. for years to come.

Frequently Asked Questions

What did Brad Garlinghouse say about the crypto bill?

Garlinghouse urged U.S. senators to pass pending crypto market structure legislation, arguing against efforts to block or delay the bill.

Why did Garlinghouse mention Scott Bessent?

Garlinghouse expressed support for Treasury Secretary Scott Bessent, aligning Ripple's stance with the Treasury's approach to digital asset policy.

Why does market structure legislation matter for crypto companies?

The legislation would clarify which regulator, the SEC or CFTC, oversees various digital assets, reducing legal uncertainty for firms operating in the space.

What is Ripple's history with U.S. regulators?

Ripple fought a multiyear legal battle with the SEC over whether its XRP token should be classified as a security, making it a vocal advocate for clearer crypto rules.