US Nears Clear Crypto Rules, Ripple CEO Claims

Ripple's CEO Brad Garlinghouse believes the US is closer than ever to establishing clear rules for cryptocurrencies. In his latest social media post, he argued that Washington's approach to crypto has changed dramatically over the past decade.

The change was evident at the inaugural meeting of the Commodity Futures Trading Commission's Innovation Advisory Committee in August. The committee brought together executives from crypto and traditional finance to advise the agency on various issues related to tech, law, and policy.

Garlinghouse stated that everyone in attendance agreed that rules written for a different era are no longer sufficient. This lack of clarity negatively affects innovation and job creation, he said.

Ripple has been advocating for regulatory clarity since 2019 when the company sent an open letter to Congress. In it, Garlinghouse and co-founder Chris Larsen stated that digital assets should be regulated according to their unique characteristics.