US CFTC Chairman: Ripple (XRP) may be considered a security by the SEC

US Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert said in a recent interview with Cheddar that XRP, currently the third-largest cryptocurrency by market capitalization, could be classified as securities by the Securities and Exchange Commission (SEC) . However, Tarbert said the situation is still unclear and the token can still be considered a commodity and therefore falls under the jurisdiction of the CFTC.

puzzle-3223941_1280

Source: pixabay

"Part of the problem is that we share jurisdiction with the SEC. If it is securities, it is their jurisdiction. If it is a commodity, it is our jurisdiction. Therefore, we have been working closely with the SEC for the past year or Really consider which belongs to which box. "

Tarbert said that Bitcoin (BTC) and Ethereum (ETH) are the only digital assets under the jurisdiction of the CFTC. Regulators allow the development of futures markets, giving investors the opportunity to securely purchase any of the two approved digital assets recognized as commodities.

Tarbert pointed to several advantages of futures, such as price discovery, hedging, and risk management, which help legitimize fledgling markets.

An important court hearing against Ripple

It is reported that Ripple Labs is expected to face another court hearing on XRP securities litigation on January 15. If the judge rejects Ripple's motion, the case will continue.

Ripple Labs was charged in court in 2018 on suspicion of illegally profiting from XRP sales. If the SEC finally identifies such tokens as illegal securities, it will be subject to strict regulatory scrutiny.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Speed ​​| Cryptographic Currency Derivatives Exchange: Clearing Mechanism; Bitcoin and "Great Wealth Transfer"

Today's content includes: 1. Chat with Tang Wei of Parity about the impact of ETH to PoS on ETC. 2. Kyber's...

Blockchain

6 pictures tell you about the development status of the Asian cryptocurrency market

Author: cryptanalysis CoinGecko company co-founder Bobby Ong translation: block rhythm BlockBeats-HQ Recently, at the...

Blockchain

The FATF's strongest regulatory new regulations have come, and the exchange's "resistance" will be held at the end of the month.

The world's mainstream cryptocurrency market – the United States, Japan, South Korea, China, how long is i...

Blockchain

The exchange is frequently stolen, and where is the security of digital currency going?

In the food chain of digital currency, the exchange has always stood at the top. But if you want to wear a crown, you...

Blockchain

Why do I always receive "Exchange Withdrawal" messages? Learn about the classification and protection measures of Web3.0 data leakage events in this article.

This article will introduce you to the classification of Web3.0 data breaches and what measures we should take to pr...

Web3

Uniswap, the most successful American Internet Fintech company benefitting from the Web3 dividend.

Ultimately, it is the users who end up paying for faith. However, there is also this saying the most imaginative asse...