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Gungun Bhatia
Sep 20, 2022
by Gungun Bhatia

CFTC Commissioner Visits Ripple Offices as SEC Case Judgement Approaches

Ripple

Table of contents

  1. A Public-Private Engagement
  2. Implications of SEC Case
  3. CFTC Has Control Over Crypto
One of the five commissioners of the U.S. Commodity Futures Trading Commission (CFTC), Caroline Pham, visited Ripple CEO Brad Garlinghouse ahead of court judgment on a lawsuit between the Securities and Exchange Commission (SEC) and Ripple that would influence how regulators handle XRP currencies.

A Public-Private Engagement

Many people on social media responded to Pham's visit when they were discussing how the CFTC differs from the SEC, in how it interacts with cryptocurrency companies and token initiatives. The SEC and Ripple filed requests for summary judgment on Saturday in a case claiming that the company's XRP sales violated securities regulations. The investigation into the case began in December 2020.

Implications of SEC Case

The SEC has taken many enforcement proceedings against cryptocurrency projects and associated industries under the chairmanship of Gary Gensler. In a July lawsuit against a former Coinbase product manager, Pham criticized the regulatory agency at the time when it declared nine tokens to be "crypto asset securities" coming under its jurisdiction.

CFTC Has Control Over Crypto

Recently, at a business conference,   SEC Chairman Gary Gensler said he was looking forward to working with legislators on Capitol Hill to advance proposals to grant the  CFTC additional authority over cryptocurrencies. Gensler emphasized that for the commission to have more control over the market, more authority would need to be given.

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XRP Ripple CFTC Securities and Exchange Commission
CFTC Commissioner Visits Ripple Offices as SEC Case Judgement Approaches
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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