Ripple CEO Brad Garlinghouse says the United States is closer than ever to clear crypto rules, pointing to a new CFTC advisory committee and this year's SEC-CFTC guidance. Congress still hasn't passed binding legislation, and the next test comes on September 15, when the Senate votes on the CLARITY Act.
Brad Garlinghouse said on Aug. 22 that the United States is “closer than ever” to establishing clear cryptocurrency rules, following a week of regulatory meetings in Washington. The Ripple CEO made the comment after attending the Commodity Futures Trading Commission's inaugural Innovation Advisory Committee meeting on Aug. 20, a body chaired by CFTC Chairman Michael Selig.
Committee brings crypto and Wall Street together
On X, Garlinghouse said: "Rules written for a different era aren't good enough". The CFTC appointed Garlinghouse to the committee in February, alongside Coinbase CEO Brian Armstrong, Uniswap Labs CEO Hayden Adams, CME Group CEO Terry Duffy, Nasdaq CEO Adena Friedman and Cboe Global Markets CEO Craig Donohue. However, the committee only advises the CFTC on technology, finance, law and policy — it cannot enact legislation or issue regulations on its own.
Agencies acted, but Congress hasn't
In March, the SEC and CFTC jointly clarified how federal securities and commodities laws apply to crypto assets, sorting tokens into five categories covering digital commodities, digital collectibles, digital tools, stablecoins and digital securities. Yet SEC Chairman Paul Atkins described the interpretation as a beginning rather than the end of the agencies' work. It is agency guidance rather than an act of Congress, and courts aren't required to follow it.
Therefore, the main legislative test still lies ahead. The Senate is scheduled to vote on cloture for the Digital Asset Market Clarity Act on Sept. 15, a procedural motion that needs 60 votes just to open floor debate. Disputes over stablecoin rewards, decentralized-finance protections and consumer safeguards still leave the bill's passage uncertain.
Ripple's own fight with the SEC continues to cast a shadow
At the SALT Wyoming event, Garlinghouse argued that the crypto industry was never opposed to regulation, noting that Ripple holds 75 licenses worldwide. He pointed to Ripple's own legal fight with the SEC, in which a federal judge ruled in 2023 that XRP itself was not necessarily a security.
That ruling didn't erase Ripple's exposure, though. The SEC and Ripple dismissed their cross-appeals in 2025, leaving a $125.04 million civil penalty and an injunction in force under the original judgment.
Sources: U.Today, crypto.news
Trading involves risk.
Risk Disclaimer
