According to a recent news report, ErisX, a Chicago-based cryptocurrency exchange, has submitted a comment letter to the Commodities and Futures Commision (CFTC) in relation to its request for information associated with the Ether network.
For those of our readers who may not be aware, late last year, an official from the CFTC issued an ROI (request for information) that sought to obtain “public feedback on the Ethereum network as well as some other niche’ data”.
To be even more specific, the CFTC’s request looked to understand the “similarities and distinctions between certain virtual currencies…as well as Ether-specific opportunities, challenges, and risks.”
In relation to the matter, a statement released by ErisX reads as follows:
“Lack of regulatory clarity has, in some instances, hampered the participation of enterprises, particularly regulated enterprises, and consequently, a number of unregulated or lightly regulated ‘exchanges' and ‘brokers' have emerged to fill the gap, many of them off-shore.”
In rounding off this article, it is worth mentioning that the folks over at ErisX believe that by “introducing standardized, CFTC-regulated products, on a robustly operated trading and custody infrastructure”, the industry at large will witness the broader adoption of Ethereum and its associated offerings.
Not only that, it will also allow for:
- Transparent market pricing
- More liquidity in existing markets
- Easier price discovery for new entrants
- Better risk management for crypto holders