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CFTC to Allow Ethereum Derivatives Trading in the Near Future

source-logo  news.u.today 10 October 2019 11:26, UTC
  • Alex Dovbnya
    Alex Dovbnya
    đź“° News

    The Commodity Futures Trading Commission (CFTC) is expected to green-light Ethereum futures 

According to Yahoo! Finance, CFTC Chairman Heath Tarbert has confirmed that Ethereum is a commodity, not a security, thus mirroring the stance taken by the SEC.     

“We've been very clear on bitcoin: bitcoin is a commodity. We haven't said anything about ether—until now.”

Recently, Coinbase, Kraken and other top exchanges formed the Crypto Ratings Council (CRC) that grades digital assets based on their resemblance of a security. Ethereum scored a 2 (out of 5) due to its "decentralized development and usage". Maker, XRP and other coins that are similar to securities got more than a 4. 

Tarbert also adds that the CFTC could approve the launch of Ethereum-based derivatives (futures, options, and other beasts) in the nearest future.

As reported by U.Today, derivatives exchange LedgerX had a spat with the CFTC after it delayed the launch of physically-delivered Bitcoin futures, thus allowing Bakkt to be the first in the race. However, the regulator denied that there was any kind of personal animus involved. 

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