Ripple CEO Hails GENIUS Act As ‘Transformational Legislation,’ Compares It To Dodd-Frank Act: ‘This Moment Is A Historic One’
Brad Garlinghouse, CEO of Ripple (CRYPTO: XRP) Labs, has hailed the passage of the GENIUS Act as a “transformational legislation” that marks a historic turning point for the U.S. financial sector, drawing parallels to the Dodd-Frank Act of 2010.
What Happened: In a post on X, Garlinghouse celebrated the bill’s 308-122 House approval, noting it ends a 15-year gap since the last major financial regulation, positioning the U.S. as a leader in innovative financial technology, particularly stablecoins.
The Guiding and Establishing National Innovation for U.S. Stablecoins or GENIUS Act, set for signing by President Donald Trump on Friday afternoon at the White House, establishes a regulatory framework for stablecoins—cryptocurrencies pegged to assets like the U.S. dollar.
Garlinghouse, whose company’s XRP Ledger underpins the XRP cryptocurrency, recently hit a new all-time high of $$3.84, sees this as a boon for Ripple’s RLUSD stablecoin.
He thanked bipartisan leaders, including Rep. French Hill and Speaker Johnson, for their support, reflecting the bill’s unexpected cross-party backing.
Garlinghouse’s comparison to Dodd-Frank, enacted post-2008 financial crisis, underscores the GENIUS …
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