Flurry Of Speculation Follows Ripple CEO’s Meeting With CFTC Commissioner

According to a recent tweet, Ripple CEO Brad Garlinghouse met with Caroline D. Pham, an American lawyer and commissioner of the Commodity Futures Trading Commission (CFTC).

Pham claims that her “learning trip” included a stop at Ripple Labs

It was “an amazing delight,” according to Garlignhouse, to welcome her to the company’s headquarters.

The XRP community showed admiration for the CFTC commissioner. The U.S. Securities and Exchange Commission (SEC), which is renowned for taking a more active approach to regulating cryptocurrency than its sister agency, was also targeted by several of its members.

Others think that the meeting’s timing might not have been a coincidence. Some XRP supporters even speculated that the CFTC would take over as the token’s principal regulator, making it a commodity.

Gary Gensler, chair of the SEC, has emphasized numerous times that the vast majority of current cryptocurrencies are securities. But now that he has acknowledged Bitcoin as a commodity, the CFTC is in charge of overseeing its regulation.

Last Monday, Ripple and the SEC submitted their motions for summary judgment, requesting a quick decision.

The parties desire a decision from District Judge Analisa Torres without having the case go to trial. In December 2020, the SEC filed a lawsuit against Ripple, alleging that the company had broken securities laws by selling XRP.

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