US Crypto Rules Near Decisive Test as Ripple CEO Optimistic on Progress
Ripple CEO Brad Garlinghouse believes that the US is 'closer than ever' to establishing clear cryptocurrency rules. This assessment comes after a week of regulatory meetings in Washington, where he attended the Commodity Futures Trading Commission's inaugural Innovation Advisory Committee meeting on August 20.
The committee's participants agreed that financial rules written for an earlier era no longer adequately address digital assets and other emerging technologies, according to Garlinghouse. He emphasized the need for new regulations, stating 'Rules written for a different era aren't good enough. Not for consumers. Not for business. Not for innovation.'
The CFTC appointed Garlinghouse to the committee in February, along with other notable members like Coinbase CEO Brian Armstrong and Uniswap Labs CEO Hayden Adams.