Ripple CEO Brad Garlinghouse (@bgarlinghouse) says the United States is on the verge of cementing its position as the world's leading crypto hub, following a high-level White House gathering
Ripple CEO Brad Garlinghouse (@bgarlinghouse) says the United States is on the verge of cementing its position as the world's leading crypto hub, following a high-level White House gathering convened by President Donald Trump in mid-August.
The August 19 summit, held at the Eisenhower Executive Office Building, brought together a broad cross-section of industry and regulatory power. Attendees included Coinbase CEO Brian Armstrong, SEC Chair Paul Atkins, CFTC Chair Michael Selig, Treasury Secretary Scott Bessent, and Commerce Secretary Howard Lutnick, alongside executives from Kraken, Robinhood, Nasdaq, and others. Trump described the gathering as a meeting of a "who's who" in finance, crypto, and technology.
Garlinghouse said he was proud to have been in the room, pointing to the scale of crypto adoption in the US as evidence the industry can no longer be sidelined. Nearly 67 million Americans now hold digital assets, roughly one in four people. "Crypto isn't a fringe industry," he wrote afterward on X, adding that Washington "knows the crypto voter is alive and well." He closed with a call to action: "Let's finish the job."
This was not Garlinghouse's first appearance at the White House under the Trump administration. He attended a pre-inauguration dinner with Trump in early 2025, as well as the inaugural White House Digital Assets Summit that followed.
The White House meeting directly preceded the first session of the CFTC's newly launched Innovation Advisory Committee, held the following day on August 20. At that meeting, CFTC Chair Michael Selig made clear the agency is not prepared to wait indefinitely for Congress to act.
The CLARITY Act, the landmark bill that would formally divide crypto oversight between the SEC and CFTC, passed the House in July 2025 by a 294-134 bipartisan margin. It cleared the Senate Banking Committee in May 2026 but has yet to reach a full Senate floor vote. A procedural cloture vote is currently scheduled for September 15, 2026, though the 60 votes needed to advance the bill remain uncertain.
Selig said his agency is "ready to begin immediately implementing the bill" if Congress passes it, but confirmed the CFTC will act unilaterally if the legislation continues to stall. "If CLARITY continues to stall because of Democrat obstruction, the CFTC will utilise its existing authorities to begin establishing a regime for crypto asset markets," he said. He added that he has already directed CFTC staff to begin exploring formal rulemaking under the agency's current statutory powers.
For Ripple and the broader industry, the dual signals from the White House and the CFTC mark a notable shift in tone. Whether through legislation or agency action, US crypto market rules now appear to be a matter of when, not if.
Sources:Payment Expert: CFTC to set crypto rules if CLARITY Act stalls in SenatePYMNTS: CFTC Readies Own Crypto Market Rules as Congress Stalls CLARITY ActSumsub: What Is the CLARITY Act? Full Guide to US Crypto Regulation
