On that day, the White House held an encryption summit, in which Brad Garlinghouse, Chief Executive Officer of Ripple, appeared at the conference with government officials, financial regulators and heads of various industry companies. The White House mentioned Ripple less in the public session and Garlinghouse did not make a speech.
Regulatory statements continue to support innovation
At the meeting, Michael Selig, Chairman of the United States Commodity Futures Trading Commission (CFTC), stated that the “enforcement-type regulation”, debanking and political pressure phase for the encryption industry was over. He stated that the White House wished to keep innovative enterprises in the United States and to operate locally.
Paul Atkins, Chairman of the United States Securities and Exchange Commission (SEC), also spoke about the Agency ' s newly introduced draft code on encrypted assets. He indicated that the arrangement was intended to provide a clearer institutional environment for digital asset financing, enabling relevant entrepreneurs and businesses to raise funds on the mainland of the United States.
The industry executive focus bill and monetization
Brian Armstrong, CEO of Coinbase, mentioned that Clarity Act, where the Senate was scheduled to vote on September 15th, was the next focus. He said that if the bill went well, the changes in encryption policy that the Government had promoted at a recent stage would be easier to keep for long.
The chief executive officer of Robinwood, Vlad Tenev, focused on monetized assets. He stated that broader asset holding and participation opportunities were important reasons for the attraction of the market for monetized products.
Ripple showed up but not focused.
In his presentation, Arjun Sethi, Chief Executive Officer Kraken, stressed that one of the aims of the encryption industry was to give more United States users more equal access to finance. The appearance of Brad Garlinghouse shows that Ripple is still alive in Washington’s policy discussions.
From the information from the venue, the focus of the Summit is not on a single project, but rather on whether the United States continues to promote encryption innovation, financing and legislative processes in a more friendly manner. Further noteworthy follow-up is the advancement of the SEC rules and the voting on the relevant bills in Congress.