Ripple CEO: Many traditional financial cores called for CFTC to phase out old rules and promote regulatory clarity

On 23 August, Ripple CEO Brad Garlinghouse wrote that it had attended the inaugural session of the CFTC Innovation Advisory Board in Washington, D.C., this week. Garlinghouse describes the participants as the "Olympiads in Encryption" and brings together the many traditional financial (tradFi) giants of 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 its 2019 letter to Congress, the industry's demand for clear regulatory rules has continued to this day, while the Trump Government, the relevant appointees and the Congress leaders have facilitated the “unprecedented approach” to achieving regulatory clarity。