Ripple CEO Garlinghouse: Regulatory clarity is closer than ever before

Ripple CEO Brad Garlinghouse wrote that he had attended the inaugural session of the United States Commodity Futures Trading Commission (CFTC) Advisory Board on Innovation in Washington, D.C., this week. Garlinghouse described the participants as “the Olympiad in the field of encryption” and brought together many of the traditional core financial giants, including Nasdaq, Chiffon, CBEE, OCC, NYU and DTCC. He noted that there was agreement that the rules developed for the old age no longer applied to current consumers, businesses and innovation. Since the letter to Congress in 2019, the industry's demand for clear regulations has continued to this day, and, with the help of the Trump Government, the relevant appointees and Congress leaders, it is now “unpreviously close to achieving regulatory clarity”。