US Cryptocurrency Rules Closer Than Ever Amid Ongoing Regulatory Efforts
Ripple CEO Brad Garlinghouse believes the US is closer than ever to establishing clear cryptocurrency rules after attending the CFTC Innovation Advisory Committee meeting. The committee, which brought together executives from major financial institutions and crypto companies, agreed that existing regulations are no longer suitable for the digital asset industry.
Garlinghouse credited recent regulatory efforts by the Trump administration, CFTC Chairman Michael Selig, and lawmakers for moving the industry closer to clearer oversight. However, he emphasized that stronger progress remains necessary before comprehensive federal legislation becomes a reality.
The CLARITY Act is currently facing a crucial Senate cloture vote on September 15, which requires 60 senators to proceed with formal debate. Industry leaders have expressed optimism about the measure's chances of clearing this hurdle, despite outstanding disagreements over various provisions.