Ripple CEO says U.S. crypto rules near decisive test

Ripple CEO Brad Garlinghouse said on Aug. 22 that the U.S. is “closer than ever” to establishing clear cryptocurrency rules following a week of regulatory meetings in Washington. Summary Garlinghouse joined CFTC committee’s inaugural meeting on August 20 alongside leaders from finance and crypto. SEC and CFTC guidance established five token categories but did not create binding federal legislation. CLARITY Act faces September 15 cloture vote, requiring 60 senators to advance toward floor consideration. Ripple’s SEC cross-appeals were dismissed, leaving $125 million penalty and injunction in force under judgment. Garlinghouse made the assessment after attending the Commodity Futures Trading Commission’s inaugural Innovation Advisory Committee meeting on Aug. 20. His statement represents his view rather than a completed change in federal law. Congress has not enacted the comprehensive market structure legislation sought by Ripple and other crypto companies. Ripple CEO joins CFTC policy discussions Garlinghouse said the committee’s participants agreed that financial rules written for an earlier period no longer adequately address digital assets and other emerging technologies. “Rules ...