The president of the Futures and Commodities Trade Commission (CFTC), Heath Tarbert, said it is still unclear whether XRP It must be regulated as a value or as a commodity.
"It is not clear. I would say we have to be vigilant, ”Tarbert told the news agency Cheddar Monday, January 13. “Part of the problem is that our jurisdiction is shared with the SEC. If it is a security, it is under the jurisdiction of the SEC. If it is a commodity, it falls under ours, ”the president added.
The president added that the CFTC has been working closely with the SEC for the past year "to really think about what jurisdiction it is in."
With respect to Bitcoin (BTC) and Ethereum (ETH), Tarbert was more assertive: in his opinion, both are commodities and not securities. The president reiterated his opinions expressed above. Last October, he said: “We have been very clear about Bitcoin: Bitcoin is a commodity. We haven't said anything about Ether, so far. In my opinion, as president of CFTC, Ether is a commodity "
As for stablecoin Libra, developed by Facebook and other companies, Tarbert said during an interview in October it was too early to define the state as security or merchandise, since Libra was still in development.
The state of XRP, the third largest market value cryptocurrency, has been a topic of debate. In 2018, a group of XRP investors filed a lawsuit against Ripple and its executives, alleging that they violated state and federal securities laws. Later, the group showed changes in the action. The case is still ongoing. Ripple, meanwhile, maintained its position that XRP is not a guarantee «Because it is not an investment contract».