Cardano founder Charles Hoskinson commended Ripple and other industry leaders following a high-level Senate Banking Committee roundtable on crypto market structure legislation.
For context, the closed-door session took place on September 17 in Washington, D.C. It drew some of the biggest names in the crypto industry, as lawmakers worked to refine the latest draft of U.S. crypto regulation.
Hoskinson Hails Ripple and a16z
After the meeting, Hoskinson took to X to applaud the progress made and the contributions of key participants, particularly Ripple.
He noted that Ripple and a16z performed well in representing the interests of the crypto industry at the Senate meeting. While emphasizing that significant work remains, he also highlighted the meaningful strides being made toward passing bipartisan legislation this year.
His comments highlight Ripple’s expanding influence in policy discussions, especially following its recent legal victories against the SEC.
Great meeting today. XRP nation, the ripple folks did really well as did A16Z. Lot more work to do, but great progress is being made on bipartisan legislation being passed this year
— Charles Hoskinson (@IOHK_Charles) September 17, 2025
Ripple’s Monica Long: Regulatory Clarity Is Coming
Ripple President Monica Long also shared her optimism following the meeting. She called blockchain “a financial revolution” that has yet to fully integrate into the existing financial infrastructure, largely due to regulatory delays.
However, Long noted that the environment is beginning to change, citing successive legislative efforts: first the GENIUS Act for stablecoins, then the Clarity Act, and now the Senate’s Responsible Financial Innovation Act (RFIA), which is taking shape.
Accordingly, she expressed appreciation for lawmakers’ willingness to engage with the industry. She highlighted their openness to practical applications and their commitment to crafting legislation that protects consumers, encourages innovation, and remains adaptable over time.
“It’s incredible to see the outreach from lawmakers to our industry to listen to practical applications,” Long said. She specifically thanked Senators Tim Scott and Cynthia Lummis for their leadership in the effort.
Broad Industry Presence at the Table
According to journalist Eleanor Terrett, the roundtable attracted several crypto heavyweights beyond Cardano and Ripple. Representatives from a16z, Kraken, Coinbase, Multicoin Capital, Paradigm, and Circle also participated.
The discussion, which lasted ninety minutes, focused on refining the language in the Senate’s draft of the market structure bill.
This bill will define which federal agencies, such as the SEC, CFTC, and FinCEN, will manage various aspects of the crypto market. It could also elevate the CFTC as the primary regulator.
Toward Bipartisan Crypto Legislation
The Senate Banking and Agriculture Committees will now continue consultations before finalizing the draft. The bill requires 60 Senate votes to pass, making bipartisan support essential before it can move to the House and, eventually, the President’s desk.
In other words, the path to finalizing and passing the bill remains lengthy. But the industry is hopeful that 2025–2026 will mark a pivotal period for blockchain regulation in the U.S. Notably, Rep. French Hill recently expressed confidence that the CLARITY Act could pass by the end of this year.
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