At the Commodity Futures Trading Commission (CFTC) American lawyer serving as commissioner Caroline D. Phamin a recent tweet Ripple CEO Brad Garlinghouse He announced that he had a meeting with
Ripple CEO Meets with CFTC Commissioner Leads to Speculation
Attorney Pham said his visit to Ripple Labs was part of his “educational trip.”
XRP Its CEO, Garlignhouse, said it was “a great pleasure” to have him in his company.
The next stop on my learning tour was visiting @Ripple labs. Thanks @bgarlinghouse! #XRP #crypto #blockchain pic.twitter.com/ICr8H2ZE3q
— Caroline D. Pham (@CarolineDPham) September 19, 2022
Many members of the community support the U.S. Securities and Exchange Commission, which has a more aggressive approach to regulating crypto than other institutions. (SEC) He did not miss the opportunity to criticize.
There are also those who believe that the timing of the meeting was not a coincidence.
Some XRP fans went so far as to argue that the CFTC could become the coin’s main regulator, meaning it would be classified as a commodity.
SEC Chairman Gary Gensler has repeatedly emphasized that the vast majority of existing cryptocurrencies are securities.
However, the SEC has recognized Bitcoin as a commodity. Which means the CFTC is responsible for regulating it.
Last week, XRP and the SEC submitted their petitions to the court for summary judgment, demanding an urgent decision.
The parties are asking District Judge Analisa Torres to make a decision without taking the case to trial.
The SEC sued Ripple in December 2020, accusing the company of violating securities laws by selling XRP.
At the time of this writing, XRP was trading at $0.3780.
*Not investment advice.
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