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XRP Ripple CEO Brad Garlinghouse: The United States is about to establish its position as the global cryptocurrency center
Ripple CEO Brad Garlinghouse said that following a high-level White House meeting convened by President Donald Trump in mid-August, the United States is on the threshold of consolidating its position as the world's leading cryptocurrency hub.
Behind the scenes of the White House Innovation Conference
On August 19, the summit held in the Eisenhower Executive Office Building brought together a wide range of representatives from industry and regulatory circles. Participants included Coinbase CEO Brian Armstrong, Securities and Exchange Commission Chairman Paul Atkins, Commodity Futures Trading Commission Chairman Michael Selig, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, in addition to executives from Kraken, Robinhood and Nasdaq. Trump described the gathering as a gathering of "top people" in finance, cryptocurrency and technology.
Garlinhaus said he was proud to be on this important occasion, noting that the scale of U.S. cryptocurrency adoption proved that the industry could no longer be marginalized. Today, nearly 67 million Americans hold digital assets, accounting for about a quarter of the population. "Cryptocurrency is not a marginal industry," he wrote on Platform X later, adding that Washington "knows that crypto voters are still active and influential." He ended his speech with a call to action: "Let's get this done."
This is not the first time Garinhouse has appeared in the White House during the Trump administration. As early as early as the beginning of 2025, he attended Trump's pre-inauguration dinner and later attended the first White House Digital Assets Summit.
The CFTC takes a tougher stance on the extension of the CLARITY Act
The White House meeting directly contributed to the first meeting of the CFTC's newly established Innovation Advisory Committee, which was held the next day, August 20. At the meeting, CFTC Chairman Michael Selig made it clear that the agency was unwilling to wait indefinitely for Congress to take action.
The CLARITY Act is a landmark piece of legislation that formally divides the regulatory authority of the SEC and the CFTC over cryptocurrencies. The bill was passed in the House of Representatives in July 2025 with a bipartisan majority of 294 votes in favor and 134 votes against. It was approved by the Senate Banking Committee in May 2026, but has not yet entered the full Senate voting process. A procedural closing debate vote is currently scheduled for September 15, 2026, but the 60 votes needed to advance the bill remain uncertain.
Selig said his agency was "ready to begin implementation immediately" if Congress passed the bill, but he also confirmed that the CFTC would take unilateral action if legislation continued to stall. "If the CLARITY Act continues to stall due to Democratic obstruction, the CFTC will use its existing powers to begin establishing a regulatory framework for cryptocurrency asset markets," he said. He added that he had instructed CFTC staff to begin exploring the possibility of formal rulemaking under its current legal authority.
For Switzerland and the wider industry, the dual signals from the White House and the CFTC marked a significant shift in tone. Whether through legislation or institutional action, the introduction of rules for the U.S. cryptocurrency market seems to be a foregone conclusion. The only problem lies in time.
