The United States has taken its first steps towards crypto regulatory clarity, thanks to recently released court opinions, said CFTC Commissioner CarolineDPham.
Caroline Pham, one of five commissioner of the Commodities Futures Trading Commission, believes the path to United States crypto regulatory clarity has been laid out following Ripple’s partial victory.recent big court decisions regarding the classification of crypto assets will eventually lead to regulatory clarity.
“You know, last year I said that we were going to see regulatory clarity first in the courts around the definition of a security, and I think we’ve seen that with some very big court opinions that have been released.” Pham said that she was looking forward to participating in regulatory working groups and hoped other United States regulators, such as the Securities and Exchange Commission, would work together to come up with a “holistic approach” to crypto regulation.
Pham's comments come a few days after San Francisco fintech firm Ripple won a key partial victory in an ongoing court battle in which the SEC accused it of selling unregistered securities. Judge Analisa Torres of the Southern District of New York ruled on July 14 that XRP was not a security when sold to retail investors on digital asset exchanges.
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