Blockchain and Crypto Companies Provide Information About Ethereum After CFTC Request

There are several cryptocurrency and traditional finance firms that have provided information about Ethereum (ETH) after a request from the U.S. Commodity Futures Trading Commission (CFTC).

The CFTC presented an inquiry back in 2018. The LabCFTC initiative was seeking public comments regarding the Ethereum network and its main principles. The main intention is to learn about the risks and opportunities related to it.

There are 35 different crypto and blockchain companies that have already provided detailed comments about Ethereum to the CFTC. Some of these companies are Coinbase, one of the most popular exchanges and crypto platforms in the market, the blockchain consortium R3, ConsenSys, a blockchain-related company, Circle, Weiss Cryptocurrency Ratings and many others.

Charlie Cooper, the managing director of R3, provided information regarding the evolution of virtual currencies during this year saying that asset-backed tokens will be growing as the future of the industry.

Gus P. Coldebella, the chief legal officer at Circle, commented about Ethereum:

“Primarily, the Ethereum Network is the largest and most used smart contract platform within the digital asset space. While other networks may show higher transaction volume, many of those same networks also have no transaction fees, potentially skewing visibility into non-spam use of the network.”

Brian Brooks, the chief legal officer at Coinbase, provided insight into the risks and regulations related to the Ethereum ecosystem. He mentioned that it might not be positive to regulate the spot and derivatives markets because a large part of Ethereum trading happens abroad, in other countries.

At the time of writing, Ethereum is the second largest digital asset with a market capitalization of $13.95. Each coin can be purchased for $132.

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Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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