Ripple CEO Joins CFTC Committee Amid SEC Framework Proposal

Ripple CEO Brad Garlinghouse has joined the Commodity Futures Trading Commission's (CFTC) inaugural Innovation Advisory Committee, calling it 'the Olympic roster of crypto' due to its esteemed membership. Alongside traditional finance giants like Nasdaq and New York Stock Exchange, Garlinghouse noted a strong presence of industry heavyweights.

The committee's formation comes as the US Securities and Exchange Commission (SEC) proposed its first-ever securities framework for digital assets, dubbed 'Regulation Crypto Assets.' Chairman Paul Atkins emphasized that this work is too important to wait for legislation.

White House crypto adviser Patrick Witt expressed optimism about the CLARITY Act's chances ahead of a cloture vote on September 15. However, he also made it clear that regulatory agencies are prepared to push out rulemaking with or without Congressional approval.