Ripple CEO Brad Garlinghouse Calls CFTC’s New Crypto Panel An ‘Olympic Roster’

White House crypto adviser Patrick Witt said agencies are "locked and loaded" to act if the CLARITY Act fails.

• Ripple CEO Garlinghouse joined the inaugural CFTC Innovation Advisory Committee, calling it "the Olympic roster of crypto."
• The SEC proposed its first-ever crypto securities framework this week, with Chairman Atkins saying the work was "too important" to wait.
• Coinbase CEO Brian Armstrong said he was "pretty optimistic" the CLARITY Act would clear 60 votes in September.

Ripple (XRP) CEO Brad Garlinghouse joined the inaugural Commodity Futures Trading Commission (CFTC) Innovation Advisory Committee alongside traditional finance giants on Friday, as the White House's crypto adviser said regulators were "locked and loaded" to push out rulemaking with or without the Digital Market Asset Clarity Act, also known as the CLARITY Act.

Garlinghouse called the gathering "the Olympic roster of crypto," saying the committee also included Nasdaq (NDAQ), New York Stock Exchange (NYSE), Cboe Global Markets(CBOE), the Options Clearing Corporation and the Depository Trust & Clearing Corporation (DTCC). 

"But for a 'crypto' gathering, there were a LOT of TradFi players in the room," he wrote on X, adding that the attendees agreed "rules written for a different era aren't good enough" for consumers, business or innovation.