Former CFTC Chair Praises XRP

Former Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Chris Giancarlo, publicly praised the cryptocurrency XRP, highlighting its remarkable resilience in the face of intense regulatory pressure. In his view, very few projects have managed to survive such a difficult period while remaining active in the market.

Giancarlo noted that XRP became a symbol of the extremely aggressive regulatory approach in the United States. He pointed in particular to the period when crypto policy was shaped by figures such as Gary Gensler and Senator Elizabeth Warren. Despite an unfriendly legal environment, the token did not disappear from the market, which led him to express respect for its endurance.

A key moment was the lawsuit between the U.S. Securities and Exchange Commission (SEC) and Ripple. The proceedings began in December 2020 and concluded with a settlement in August 2025. For many observers, this case was a true test of XRP’s ability to survive in the United States. Nevertheless, the token continued to operate throughout the entire legal process, supported by an active community.

Giancarlo also addressed the future of blockchain technology in the banking sector. In his opinion, banks will accelerate the adoption of blockchain-based solutions once greater regulatory clarity is achieved. Even today, the technology is used to enable faster cross-border payments, reduce costs, and improve security, as well as in areas such as smart contracts, real-time settlement, digital identity, and asset tokenization.

An example of such initiatives is the collaboration between Goldman Sachs, BNP Paribas, and Deutsche Börse, which led to the launch of the Canton blockchain, focused on institutional finance and the tokenization of real-world assets. Despite these developments, Giancarlo believes that progress in the U.S. is still being slowed by legal uncertainty.

He also emphasized that the future of finance will not be built on a single blockchain. According to him, the system will become multi-chain and will not be dominated by Ethereum, XRP, or any other single solution. The industry is currently awaiting comprehensive cryptocurrency regulations included in the proposed Clarity Act, which has stalled in the Senate due to political disputes. Nevertheless, a White House advisor on cryptocurrency affairs expressed confidence that the bill will eventually move forward.