The US Commodity Futures Trading Commission (CFTC) is ready to give its approval for the launch of regulated futures on Ethereum if all the necessary conditions are met, CoinDesk writes with reference to a high-ranking official who wished to remain anonymous because the agency does not usually disclose such information.
“I believe that we can get used to the ether-bound derivatives under our jurisdiction, ” he said.
We do not make straightforward statements, but we consider the applications submitted to us. A derivative exchange comes to us and says that it wants to launch a certain product. If they offer such a derivative that meets our requirements, I think that with a high degree of probability we will allow it to be launched on the basis of self-certification. ”
Tradeblock’s director of digital currency trading software vendor John Todaro claims that launching such an instrument will allow hedge funds to interact with the broadcast without having to worry about keeping it and may even affect the decision of the US Securities and Exchange Commission ( ETF ) regarding ETF , also increase the level of confidence in cryptocurrency among retail investors.
Last December, the CFTC asked the public to comment on a number of factors related to Ethereum, starting with the principles of the consensus mechanism and deposit audit capabilities and ending with the potential impact of launching derivative contracts on the cryptocurrency market.
35 representatives of the industry responded to the regulator’s request, including :
- Coinbase
- Chamber of Commerce,
- Coin Center,
- Blockchains LLC,
- Circle,
- and even the self-styled creator of Bitcoin Craig Wright.
The Chicago Derivative Exchange ErisX, in turn, drew the attention of the regulator to the fact that “the lack of regulatory certainty in some cases limits the possibilities for operating activities by enterprises, especially regulated enterprises,” while many “unregulated or poorly regulated“ exchanges ”and “Brokers” ”entered the market to fill the gap. ErisX called on CFTC to approve Ethereum futures, which, according to the company, could help further streamline this market.
Publication date 07/05/2019
Share this material on social networks and leave your opinion in the comments below.
