Ethereum derivatives expected in the US market after CFTC chair declared Ether a commodity


  • Ether joins Bitcoin as a commodity following the declaration by CFTC’s chair.
  • Tarbert believes that similar assets should be given similar treatment unless they raise questions on how they were created.

The chairman of the Commodities Futures and Trading Commission Heath Tarbert says that Ether (ETH), the second-largest cryptocurrency in the world is a commodity. Tarbert spoke to Yahoo Finance during the Summit on Thursday where he admitted that Ethereum falls under the oversight of his organization.

“We've been very clear on bitcoin: bitcoin is a commodity. We haven't said anything about ether—until now,” Tarbert said at Yahoo Finance’s All Markets Summit. “It is my view as chairman of the CFTC that ether is a commodity.”

Tarbert also took the time to urge the United States to take the leadership role when it comes to blockchain and digital assets.

“I want to stress the importance of blockchain and digital assets to the United States, and in particular, as CFTC Chairman, I want the U.S. to lead in this technology.”

The CFTC is clear on the matter that Bitcoin and Ether are not securities and has taken it upon itself to work hand in hand with the Securities and Exchange Commission (SEC). Tarbert agrees that there is “ambiguity in the market” regarding the status of numerous coins. However, urges that “similar digital assets should be treated similarly.”

The clarification of Ether as a commodity has opened the way for Ethereum derivatives in the United States. Cryptocurrency enthusiasts have a reason to smile as regulators appear to have an open mind likely to bring a paradigm shift across the industry.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price analysis: $ 7,265 to cap any bounce amid rising wedge breakdown

Bitcoin (BTC/USD) is trading little changed so far this Saturday, having run into stiff resistances aligned near 7,265 on its multiple upside attempts. Rising wedge breakdown is spotted on hourly sticks, with bears eyeing 7,075. However, a rebound cannot be ruled out in the near-term.

More Bitcoin News

Litecoin technical analysis: Bearish bias intact while below $ 45.50

Litecoin (LTC/USD) is back in the red zone on Saturday after two straight days of tepid bounce. Despite the latest knockdown, the coin remains in a familiar trading range between $ 45 and $ 43. 

More Litecoin News

Bitcoin Cash price prediction: Eyes on $ 215, with bull pennant on hourly sticks

Bitcoin Cash (BCH/USD) built on Friday’s rebound before entering a bullish consolidation this Saturday, as the bulls await a fresh impetus for the next push higher. 

More Bitcoin Cash News

Cryptocurrency market update: Selling wave returns, Santa rally still on sight?

No relief for the crypto markets, as sellers return on Saturday. Ethereum – the main laggard amongst the top three dominant cryptocurrencies. 

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast

BTC

ETH

XRP