Ripple CEO Garlinghouse Discusses CLARITY Act with CFTC, XRP Rises to $1.48

Ripple CEO Brad Garlinghouse participated in the first meeting of the CFTC's Innovation Advisory Committee, alongside traditional financial institutions such as Nasdaq, CME, Cboe, NYSE, and DTCC. XRP is currently priced at $1.48, nearly 48% higher than last week. Garlinghouse described the attendee list as the 'Olympic team of crypto.' The meeting focused on how traditional entities can offer digital assets, bringing the infrastructure for institutional trading in XRP and other coins closer. There is a consensus that the current regulations are outdated for both consumers and businesses. The committee advises on innovation in the derivatives market, which affects which crypto products U.S. exchanges can offer to investors. Ripple has been advocating for clear rules since 2019 in an open letter to Congress. The CLARITY Act aims to establish which regulator is responsible for which tokens, which is crucial for U.S. banks and brokers to offer XRP without legal risk. The value of XRP has now exceeded $92 billion, placing it fourth. The coming months are critical for XRP investors, with the vote in Congress and the possibility of new regulations from the regulator.

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