According to Bitcoin.com, Ripple CEO Brad Garlinghouse announced that he will testify before the U.S. Senate Banking Committee on Wednesday, July 9, at a hearing titled "From Wall Street to Web3: Building the Future of Digital Asset Markets." The hearing, which will be webcast, is a key part of the Senate Digital Assets Subcommittee's legislative process to promote the GENIUS Stabilizer Act and the CLARITY Market Structure Act, aiming to clarify the regulatory division of labor between the SEC and the CFTC. Garlinghouse stressed on social media that the United States 'formulation of constructive cryptocurrency market structure legislation is crucial to ushering in a new era of innovation and financial opportunity, while protecting consumers.