New CFTC Commissioner Visits Ripple Labs; Community Applauds Move

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New CFTC Commissioner Visits Ripple Labs; Community Applauds Move
  • The New CFTC Commissioner Caroline D. Pham visits Ripple Labs.
  • XRP supporters are thrilled at this news and shared their excitement on Twitter.
  • The community also takes a dig at SEC Chairman Gary Gensler.

The New CFTC Commissioner Caroline D. Pham stated on Twitter that she was visiting Ripple Labs. In a photo shared on her Twitter account, Pham posed with Brad Garlinghouse, CEO of Ripple, in front of the Ripple labs logo in their office.

In this assumingly positive move, Pham seems excited to be at the next stop on her learning tour.

The comment section under her post was exceedingly positive, with sentiments such as “Keep up the good work!” and “So awesome.” One user termed it a wonderful move, adding that Ripple was one of the most transparent Fintech companies. “I’m sure now you understood what is going on in our space. Caroline, take over whole crypto regulations.”

Many of the comments were also directed at SEC Chairman Gary Gensler, with several investors tagging Gary’s account in their tweets. One user stated, “Well, you just made a ridiculous amount of fans in the space. Take note, Gary Gensler, this is what true leadership and support of US innovation looks like.” Another one remarked, “True leadership. Meanwhile, we can’t even get a certain chairman to leave his living room.” 

The SEC, having earned a reputation with its long-standing case against Ripple labs, is, for good reason, not in favor of the crypto community. And it was earlier this year that the CFTC started to gain the upper hand in cryptocurrency regulations in the US, receiving the bulk of responsibilities as the lead regulator. Meanwhile, the SEC is struggling to maintain its role in the regulatory space.

However, Chairman Gary Gensler had only good things to say about the CFTC and the growing power of the regulatory body in the sector. Gensler in a conference stated that he was ready to work with Congress to give CFTC the power to oversee and regulate non-security tokens and related intermediaries.

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