ErisX Crypto Exchange Files an Official Response About Ethereum to the CFTC's Recent Info Request

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.”

Final Take

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

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Shiraz J
Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

[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

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,511FansLike
2,795FollowersFollow
4,269FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

PoolTogether's ‘No Loss' Gambling Platform Utilizes Chainlink’s VRF on Ethereum to Select Winners

Chainlink announces its verifiable random function on the Ethereum mainnet, bringing a host of benefits to the decentralized platform. PoolTogether, a gamified savings platform...

Digital Assets Beat Traditional Assets by a Wide Margin & Ethereum Outperforms Bitcoin

In 2020 to date, Bitcoin has seen a positive performance of 80% and Ethereum 217%. With these gains, digital currencies are leading this year, with...

Filecoin Miners Will Receive 25% Of The FIL Rewards Immediately After A Successful Network Upgrade

Filecoin (FIL) miners set to receive 25% of their rewards instantly for miners that successfully activated the FIP-004 protocol at block number #170,000. Given...

PayPal Exploring Acquiring Crypto Companies, Already in Talks with Bitcoin Custodian BitGo

PayPal is now exploring acquisitions of crypto companies, including bitcoin custodian BitGo, reported Bloomberg. This week, Paypal announcing support, buy, sell, and hold for cryptos...

Bitcoin Is Having A “Sell-Side Liquidity Crisis,” As BTC Buyers Outweigh the Sellers

After an explosive start of the week that took us to a 13-months high of $13,300, Bitcoin is taking a breather just under $13,000. Interestingly,...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today