CFTC ready to approve futures based on Ethereum

Ethereum cryptocurrency is a commodity, not a security, and soon you can expect the emergence of regulated futures on its basis. The chairman of the Commission on the derivatives trading (CFTC) of the United States, Heath Tarbert, said at a Yahoo Finance summit.

“We have very clearly stated that bitcoin is a commodity. But so far they have not said anything about Ethereum. As chairman of the CFTC, I believe that ETH is a product, ”said Tarbert.

He supported the opinion of the US Securities and Exchange Commission (SEC) that Bitcoin and Ethereum are not securities. At the same time, the status of many other coins is not so clear, but ultimately “similar digital assets should be treated equally,” added the head of CFTC.

According to Tarbert, the coins that appeared as a result of the fork, such as Bitcoin Cash or Ethereum Classic, regulators should perceive similarly to the original cryptocurrencies.

“If the original digital asset was not defined as a security and, therefore, is a commodity, most likely the new asset will be the same, unless the fork itself raises some issues of securities law in accordance with the classic Howie test ,” he said CFTC chairman.

Regarding coins issued through ICOs, Tarbert believes that their status may change over time. Initially classified as a security, a token can later turn into a product and vice versa, he said.

Recall, for the first time, the readiness of the CFTC to approve Ethereum futures became known in May.

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