Ripple's Chris Larsen to Meet SEC Chairman Paul Atkins on May 2

This meeting could prove fruitful for the Ripple ecosystem as well as the overall crypto community. The high-level meeting comes amid growing speculation that the SEC is nearing approval of a spot XRP exchange-traded fund (ETF).

A high-level meeting is set to take place on May 2 between Charles “Chris” Larsen, executive chairman and co-founder of Ripple (CRYPTO: XRP), and newly appointed chairman of the Securities and Exchange Commission (SEC), Paul Atkins.

This meeting could prove fruitful for the Ripple (CRYPTO: XRP) ecosystem as well as the overall crypto community. The high-level meeting comes amid growing speculation that the SEC is nearing approval of a spot XRP exchange-traded fund (ETF).

‘Insiders Claim SEC Close To Approving A Spot XRP ETF’

This tidbit was shared by noted crypto insider, Steph, on Monday. She shared a screenshot of an email chain that included an email from an insider.

The insider claimed that they had an email from an administrative assistant at the SEC confirming that Chairman Atkins and Ripple co-founder Chris Larsen would be meeting on May 2.

Further, the insider stated that they were told that the SEC is "close to approving a spot XRP ETF."

This comes at a time when there is speculation that the SEC could approve several spot Bitcoin (CRYPTO: BTC) ETFs soon, which would open the door for the approval of spot XRP ETF as well.

Earlier this year, the SEC sued ETF provider Shapeshift in an attempt to stop the firm from launching an XRP ETF. This move by the SEC sparked widespread attention and discussion regarding the regulatory landscape for cryptocurrencies in the U.S.

Atkins’ Recent Comments On Crypto

Recently appointed chairman of the SEC, Paul Atkins, has been a vocal supporter of new technologies, especially in the financial services industry.

Speaking at a recent House Financial Services Committee hearing, Atkins highlighted the importance of striking a balance between innovation and investor protection.

This statement comes amid a time when the SEC is facing criticism for being too slow to approve crypto products. Despite this, the Commission has been actively involved in several cases against major crypto firms.

Earlier this week, the SEC sued crypto exchange Binance and its CEO Changpeng Zhao for allegedly defrauding investors. This case comes on the heels of the SEC’s case against Coinbase (NASDAQ:COIN) which was filed in early June.