CFTC Chair: Ethereum Futures May Be Launched in 2020
According to Chairman of the US Commodity Futures Trading Commission (CFTC) Heath Tarbert, Ethereum futures may be approved in 2020. The specialist spoke about this during his speech at the week of fintech at Georgetown University.
According to him, the process of approval of applications will occur according to the scheme that is used to launch futures contracts on Bitcoin. At the same time, Heath Tarbet noted that at the moment he is not aware of the preparation of ETH futures by any company.
CFTC Chairman: Ethereum Is A Commodity
Earlier, Chairman of the US Commodity Futures Trading Commission (CFTC) Heath Tarbert took on Ethereum. The specialist believes that Ethereum can be regarded as a commodity. The expert shared this opinion during his speech at the Yahoo Finance conference.
According to Heath Tarbert, an evaluation of Ethereum suggests that ETH-based futures may appear on the market soon. The specialist drew attention to the fact that the discussed cryptocurrency, like bitcoin, can not be classified as a class of securities. In this, the position of the CFTC is similar to the opinion of the US Securities and Exchange Commission (SEC).
During his speech, Heath Tarbert drew attention to the difficulties associated with determining the status of cryptocurrencies. The specialist noted that at the moment there are a large number of assets on the market that require the valuation. At the same time, the CFTC chairman believes that determining the status of technically similar cryptocurrencies should be based on the same evaluation criteria.
Previously several companies participating in the crypto community introduced a cryptocurrency valuation system, with which you can determine the status of an asset.
The specialist also paid special attention to the position of the forks in his speech. In his opinion, projects built based on an asset are likely to have a similar status. For example, Bitcoin fork, according to the CFTC chairman, as well as BTC, is not securities.