Ripple CEO Brad Garlinghouse said U.S. cryptocurrency regulatory clarity is closer than ever and Washington’s approach has changed markedly over the past decade. His comments followed the first meeting of the U.S. Commodity Futures Trading Commission’s Innovation Advisory Committee, chaired by Michael Selig, where crypto firms and traditional finance executives participated. Garlinghouse said the group agreed old rules were insufficient. He also cited recent SEC and CFTC moves and Ripple’s long legal fight with the SEC.

Opposition by U.S. banks to the CLARITY bill could weaken their own position, a16z crypto policy head and general counsel Miles Jennings said. He argued that the GENIUS Act is already in force and has accelerated on-chain dollar movement, with other real-world assets likely to follow regardless of CLARITY. If CLARITY fails, he said, stablecoin deposit yield structures banks oppose would remain. Banking groups have urged stricter bans on interest-like rewards for holding stablecoins.