Yugocean
Valued Contributor
The outcome of the much-discussed lawsuit between the Securities and Exchange Commission (SEC) and Ripple Labs could be there at any time, including determining whether XRP is a security or not, and the SEC appears to be losing the case. On this occasion, the CFTC has made its move.
Carolyn Pham, a commissioner of the Commodity Futures Trading Commission (CFTC), and Brad Garlinghouse, CEO of Ripple, had a friendly meeting. This is in stark contrast to the harsh action taken by the SEC, headed by Gary Gensler, against the crypto sector.
Carolyn Pham, a commissioner of the Commodity Futures Trading Commission (CFTC), and Brad Garlinghouse, CEO of Ripple, had a friendly meeting. This is in stark contrast to the harsh action taken by the SEC, headed by Gary Gensler, against the crypto sector.
The SEC wants cryptocurrencies to be declared as securities, and the CFTC is hoping to get them declared as commodities. Carolyn Pham's meeting with Garlinghouse can be considered an impressive effort by the CFTC to get crypto accepted as a commodity.
Only time will tell how effective this will be. At the moment, both the SEC and the CFTC are making their own efforts.
Only time will tell how effective this will be. At the moment, both the SEC and the CFTC are making their own efforts.
