Today, Commodities Futures Trading Commission commissioner Caroline D. Pham just visited Ripple’s office this morning and met with Ripple CEO Brad Garlinghouse. Interestingly enough, this occurred just days after Ripple filed a public motion for summary judgement int he Ripple v. SEC lawsuit.
Notice how Brad Garlinghouse states “Public-private engagement *handshake emoticon*”? This right here is Ripple taking a jab a the Securities and Exchange Commission. Trying to get the point across that Ripple and the CFTC are actually talking to each other, and exchanging information and talking together like normal human beings, instead of being a power-grab agency that attacks anyone involved with cryptocurrency they can for political and monetary power.
On August 5th, 2021 a CFTC commissioner Brian Quintenz stated that the SEC “lacks authority over commodities, including ‘crypto assets’.”
Also CFTC Chairman Christopher Giancarlo said the CFTC was the only agency with the experience to regulate cryptocurrency markets and pressed the CFTC to nominate a new chair to generate “sensible cryptocurrency regulation.”
If we want to speculate, it appears as if we may have a possible Ripple CFTC collaboration going on here. Perhaps the CFTC could help Ripple and interject in the Ripple v. SEC lawsuit by filing an amicus brief, and of course this is just speculation because it seems like the CFTC and Ripple have the same train of thought about the over-reaching Securities and Exchange Commission.
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