Ripple CEO: CFTC Innovation Advisory Committee Reaches Consensus in First Meeting
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Ripple CEO Brad Garlinghouse stated that during the first meeting of the U.S. Commodity Futures Trading Commission (CFTC) Innovation Advisory Committee, attendees included representatives from traditional financial institutions such as Nasdaq, CME Group, Chicago Board Options Exchange, Options Clearing Corporation, New York Stock Exchange, and the American Depository Trust & Clearing Corporation. The participants reached a consensus that the regulatory rules designed for the past era are no longer sufficient to meet current needs, which is detrimental to both consumer protection and the development of businesses and financial innovation. Garlinghouse recalled that he had called for a clear regulatory framework for cryptocurrencies as early as 2019, but the industry is still waiting for clear rules. He believes that under the push from the Trump administration and regulatory appointees like CFTC Chairman Selig, the U.S. is "closer than ever" to establishing a clear regulatory framework for cryptocurrencies. This meeting is seen as an important signal of U.S. regulators strengthening communication with the cryptocurrency industry and traditional financial institutions, and the market expects that discussions around digital asset regulation, market infrastructure, and the integration of traditional finance with blockchain will further accelerate in the future.
-- Price
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