- White House crypto adviser Patrick Witt warned that federal agencies are “locked and loaded” to issue new rules if the CLARITY Act fails in September.
- Ripple CEO Brad Garlinghouse joined the CFTC Innovation Advisory Committee, calling the group “the Olympic roster of crypto.”
- The SEC proposed its first-ever crypto securities framework this week, while Coinbase CEO Brian Armstrong expressed optimism the CLARITY Act will clear a 60-vote threshold.
White House crypto adviser Patrick Witt told Coinage on Friday that federal agencies are “locked and loaded” to push out rulemaking if the CLARITY Act fails, as Ripple CEO Brad Garlinghouse joined the inaugural CFTC Innovation Advisory Committee alongside traditional finance giants. Consequently, Garlinghouse called the gathering “the Olympic roster of crypto” and credited the Trump administration and congressional leaders for bringing the industry closer to clear regulation than any point since his 2019 open letter to Congress. Meanwhile, the SEC proposed “Regulation Crypto Assets” on Tuesday, marking its first-ever securities framework for digital asset fundraising, with Chairman Paul Atkins stating the work was “too important” to wait for legislation.
Coinbase CEO Brian Armstrong said on Thursday he was “pretty optimistic” the CLARITY Act would clear 60 votes in September, citing a Trump ethics offer that could help advance the bill past Democratic holdouts. XRP’s price rose over 3% in the past 24 hours, and retail sentiment on Stocktwits remained “extremely bullish” with chatter at “extremely high” levels. Witt noted that the cloture vote is scheduled for September 15, adding that “nothing motivates like a deadline.”
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