A senior official at the Commodity Futures Trading Commission has laid out the agency’s plan to let crypto exchanges sign up for a single national rulebook, a proposal that backers of XRP say could widen the token’s path into institutional portfolios.

Michael Passalacqua, a senior advisor at the CFTC and head of its Innovation Task Force, described the effort in a video interview circulated by crypto analyst X Finance Bull (@Xfinancebull). The public comment window on the proposal closes Dec. 14.

“The goal of this is to provide a federal option for crypto asset exchanges to opt into a federal framework, one national uniform framework under the CFTC’s oversight,” Passalacqua said in the interview.

He pointed to the CLARITY Act,…