CFTC's Caroline Pham visits Ripple's offices as part of a 'learning tour' while the firm awaits a court decision about its ongoing case with the SEC.
The timing of Pham’s visit had many on social media reacting to the CFTC’s approach in engaging with crypto firms and token projects when compared to that of the Securities and Exchange Commission, or SEC. On Saturday, the SEC and Ripple bothin a case alleging the firm’s XRP sales violated securities laws. The case has been ongoing since December 2020.
The outcome of the SEC case could influence which federal regulator might play a greater role in handling the XRP token as a commodity or security. Garlinghouse on Saturday that the SEC wasn’t “interested in applying the law” and alleged the regulator sought to “expand their jurisdiction far beyond the authority granted to them by Congress.”
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