White House Cryptocurrency Summit Sees Industry Leaders Unite Behind Pro-Industry Stance

Ripple CEO Brad Garlinghouse attended a White House cryptocurrency summit on August 19, but XRP did not show an immediate breakout move. The event saw administration officials, heads of major financial regulatory agencies, and industry representatives gather to discuss the future of the crypto industry in the United States.

The core message of the event was aligned with the administration's stance of keeping the crypto industry in the US. Michael Selig, chairman of the U.S. Commodity Futures Trading Commission, stated that the era of political law enforcement, debanking, and enforcement-driven regulation is over. He added that innovators are now welcomed at the White House and that finance's new frontier is being built within the United States.

U.S. Securities and Exchange Commission Chairman Paul Atkins mentioned the agency's newly proposed rules for crypto assets. He said the rules would provide certainty for crypto founders and job-creating companies present to raise capital in the United States using digital assets.