CFTC still hesitant about Ripple's XRP classification

The president of the American regulator CFTC said it was "not yet clear" if XRP would be classified as a title or a convenience.

During an interview with Cheddar, Heath Tarbert, the president of the Commodity Futures Trading Commission (CFTC), returned to the future classification of the XRP cryptocurrency issued by the company Ripple, reports TheBlock.

"It's unclear. Stay tuned i would say. Part of the problem is that we share jurisdiction with the Securities and Exchange Commission (SEC). If it is a title, it falls under their jurisdiction. If it’s a convenience, it’s ours, ”he said.

Tarbert added that the two regulators had worked hand in hand in 2019 in order to really think about "what falls in which box".

While the two largest cryptocurrencies in the market in terms of market capitalization, Bitcoin and Ethereum, are considered commodities in the United States since the summer of 2018, certain digital items, such as XRP, are still waiting for the SEC or CFTC verdict.

Token classification XRP has been debating for a while. In particular because American investors have filed a class action against Ripple for violating federal securities laws (securities). The trial, which started in 2018, is still ongoing.

For the American company specializing in blockchain, the complaint was made too late. Last fall, citing a law that protects companies from lawsuits related to the sale of unregulated securities after 3 years, she claimed that the first sale of XRP had taken place in 2013 and the complaint was therefore no longer admissible.