Ripple CEO: US Crypto Rules Closer Than Ever

Ripple CEO Brad Garlinghouse believes the US is closer than ever to establishing clear rules for crypto. He made this assessment after the inaugural meeting of the Commodity Futures Trading Commission's Innovation Advisory Committee in Washington on August 20.

Garlinghouse argued that Washington's approach to crypto has changed dramatically over the past 10 years. The committee, which was chaired by CFTC Chairman Michael Selig, brought together executives from crypto and traditional finance to advise the agency on various issues pertaining to tech, law, and policy.

'Everyone was in agreement,' Garlinghouse said. 'Rules written for a different era aren't good enough. Not for consumers. Not for business. Not for innovation.'

Ripple's push for legal clarity dates back to July 2019 when the company sent an open letter to Congress. In it, Garlinghouse and Ripple co-founder Chris Larsen stated that digital assets should be regulated according to their peculiarities.