The US Commodity Futures Trading Commission (CFTC) is ready to approve Ethereum futures. This is reported by CoinDesk, citing a senior official of the department.
This decision will consolidate the jurisdiction of the department over the Ethereum markets, since at the moment it is limited to compulsory tools. At the same time, the launch of non-deliverable futures will allow institutional players to safely interact with the second largest capitalization cryptocurrency in a strictly regulated environment.
According to market participants, the green light from the CFTC may in the long launch have a positive impact on the approval process of cryptocurrency ETFs by the US Securities and Exchange Commission (SEC), and also strengthen retail investor confidence in the future.
In mid-December last year, the CFTC requested public comments on Ethereum technology and its apps. The Office explained its interest by the need to develop regulatory standards for the Ethereum and related markets.
As a result, the Agency received 35 responses from various organizations, companies and individuals, including the Coin Center, Blockchain LLC, Circle, Coinbase, ErisX and Craig Wright.
Recall the launch of non-deliverable Bitcoin futures on the CBOE and CME took place on December 11 and December 18, 2017, respectively.
However, the agency is not in a hurry to approve the bitcoin delivery futures from the Bakkt site, which is created by the financial corporation Intercontinental Exchange (ICE).