US Edges Closer to Clear Crypto Rules Amid Regulatory Progress

Ripple CEO Brad Garlinghouse expressed optimism that the United States is closer to establishing clear cryptocurrency rules after attending the inaugural CFTC Innovation Advisory Committee meeting.

The meeting, which took place on August 20, brought together an 'Olympic roster' of crypto leaders, including executives from Coinbase, Uniswap Labs, and Nasdaq. Garlinghouse noted that participants shared a common view that regulations designed for the earlier financial system cannot adequately support consumers, businesses, or innovation today.

Despite recent regulatory efforts by the Trump administration, CFTC Chairman Michael Selig, and lawmakers, Garlinghouse emphasized that stronger progress remains necessary before comprehensive federal legislation becomes a reality. The CLARITY Act faces a crucial 60-vote Senate cloture test on September 15, which would allow formal debate to begin.

The SEC and CFTC have issued guidance explaining how federal securities and commodities laws apply to different categories of crypto assets. However, the guidance does not carry the force of congressional legislation, and courts are not required to follow the interpretation.