Given the gravity of yesterday's news regarding the SEC clarifying “Ethereum is not a Security“, the CBOE Global Markets has had some quick responses regarding the potential of opening up Ethereum Futures.
While nothing is absolute or final yet, the air does appear to have been cleared in regards and respect to the SEC's positioning on Ethereum's native token and currency, Ether (ETH).
Yesterday the entire crypto-universe was on fire and had their twitter fingers going crazy, after news broke about William Hinman’s, the SEC’s director of corporate finance, announcement concerning Ethereum not being classified as a security in today's climate (although might have been when first launched back in 2014).
His exact statement regarding this was, “the ethereum network and its decentralized structure, current offers and sales of ether are not securities transactions.” Further adding, “if there is a centralized third party, along with purchasers with an expectation of a return, than it is likely a security… The key here of course being that Ether is decentralized.”
Based on his comprehension of the technology and how it operates, he declaimed that the current offers and sales of Ethereum are not securities transactions. While this is not an official statement from the SEC itself, it is a huge breakthrough in what the community is trying to understand. We now have clarity on one of the most pressing issues this space has experienced.
Today, as a result of yesterday’s discussion, Chris Concannon, the president and COO of the CBOE, said: “The CBOE is pleased with the SEC’s decision to provide clarity around the issue [whether ETH is a security].” He went further by saying: “This announcement clears a key stumbling block for ether futures, the case for which we've been considering since we launched the first bitcoin futures in December 2017.”
Here are a few key points made on twitter regarding the Ether Futures possibility:
— Monopoly / Busser @ Applebee’s (@crypto_monopoly) June 14, 2018
But if ETH was a security at the time of the ICO, why would there be no penalty or enforcement action against the promoters at the time of the offering? Or has the SEC left the door open on Ethereum enforcement action while clearing current and future treatment as a commodity?
— Mike Dudas (@mdudas) June 15, 2018
— Satoshi Capital (@SatoshiCapital) June 14, 2018
Overall, with less ambiguity present regarding the digital asset [Ethereum], it appears we have inched closer to the CBOE offering Ethereum futures. As more information is uncovered on this topic, we will ensure to inform you all.