Traditional Finance Agrees Existing Rules Don't Work for Crypto

Ripple CEO Brad Garlinghouse spoke out after attending a White House meeting on crypto and joining the CFTC's Innovation Advisory Committee. He noted that participants from traditional finance agreed existing rules do not work in the current market.

Garlinghouse, who calls the committee 'the Olympic rules of crypto', stated that even though there were numerous participants from the traditional finance world, the conclusion was unanimous, old rules do not work under the current market environment.

The high-level regulatory engagement signals increased focus on crypto regulation and potential adoption benefits for Ripple and the broader crypto and DeFi ecosystem.