Trusted CFTC Source Says Ethereum Futures Could Get The Green Light By US Regulators Soon

    Regulators In The US Could Eventually Approve Ethereum Futures According To CFTC Sources

    The U.S. Commodity Futures Trading Commission (CFTC) could eventually approve Ether (ETH) futures contract. The information was released a few hours ago by ConDesk citing inside sources.

    Regulators Could Approve ETH Futures Contracts

    The CFTC is one of the regulatory agencies in the United States and oversees derivatives markets in the country. Back in 2017, it gave the green light for the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE) to launch Bitcoin (BTC) futures.

    The regulator seems open to approving a similar product for Ether, the second largest cryptocurrency in the market in terms of market capitalization after Bitcoin.

    On the matter, the person from the CFTC commented during a conversation with CoinDesk:

    “I think we can get comfortable with an ether derivative being under our jurisdiction. We don’t do bold pronouncements, what we do is we look at applications before us.”

    According to the report released by CoinDesk, a CFTC-supervised futures market could increase confidence among regulators and play an important role in the approval of a Bitcoin Exchange Traded Fund (ETF). Many of these ETFs were rejected in 2018, even when the market was expecting for the approval of at least one of these ETFs.

    Moreover, the regulatory agency informed that it was looking at Ethereum back in December when the regulator published a “Request for Input” in which individuals could provide answers to several questions regarding Ethereum. The main intention is to help the regulator understand “the range of issues that might exist” around this digital asset.

    35 comments were submitted to the regulatory agency and several individuals and firms provided information about Ethereum including Craig Wright, Coinbase, Blockchains LLC, Circle, and many others.

    Amy Davine Kim, the chief policy officer at the Chamber of Digital Commerce, explained that the regulator has enforcement jurisdiction over the spot market “after-the-fact.” Moreover, those assets that are not considered securities are broadly defined as a commodity.

    Thus, if the CFTC approves Ether futures, it will be very positive for the digital currency and the crypto space. It will legitimize the space and it will also have an important impact on other regulatory agencies such as the CFTC.

    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.

    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


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Australia’s Financial Watchdog Grants Raiz Micro-Investing App Users Access To Bitcoin Fund

    Australian Securities and Investment Commission (ASIC), the nation’s financial industry watchdog has approved the launching of a Bitcoin fund that will be operated by...

    Argo's Bitcoin Mining Revenue Jumps 10x In 2019, Operations Ramping Up For 2020

    It has been reported that Argo Blockchain’s Bitcoin (BTC) mining form took 10 times more revenue in 2019 than it did in 2018. The announcement...

    After Passing Strict Regulatory Standards, Zipmex Crypto Exchange Granted License by Thai SEC

    The Asia-Pacific crypto-fiat exchange Zipmex has been given a digital assets exchange license by the Thai Securities and Exchange Commission (SEC). As stated in a...

    South Korea Might Re-Categorize Cryptocurrencies, Imposing A 20% Tax On Gains

    South Korea one of the most progressive nation in terms of evolving technology adoption might impose a 20% tax on crypto gains in the...

    Does Peter Schiff Losing His Bitcoin Reveal the Shortcomings of The Technology?

    As gold proponent Peter Schiff loses his BTC because he didn’t remember to keep his seed phrase, CT tore into him for forgetting his...

    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.