April 25, 2024

The CFTC Chairman considers Ether a “commodity”

CFTC Chairman Considers Ether a "Commodity"

Recently, the chairman of the Commodity Futures Trading Commission (CFTC) said he considers ether (ETH) to be a commodity.

Yesterday at the Yahoo financial summit chairmanCFTC Heath Tarbert said that ETH falls under CFTC control and that the commission plans to allow the trading of derivatives in the US market in the near future.

We have already established that Bitcoin is a commodity, butdid not characterize the ether in any way. I believe that the broadcast – this is also a product. I want to emphasize the importance of blockchain and digital assets to the United States, and in particular, as Chairman of the CFTC, I want the United States to lead in this technology.

In March, CFTC Commissioner Brian Quinten noted thatEthereum’s planned transition from a proof-of-work algorithm to a proof-of-ownership algorithm can create potential problems, such as market manipulation.

CFTC declared virtual currencies a “commodity” subject to agency control in 2014.

Based on materialswww.theblockcrypto.com