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U.S. Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert expects Ethereum (ETH) futures to be launched in 2020.
“It is likely that futures contracts will appear in the period from six months to a year,” he said during a speech at a fintech week at Georgetown University.
I have no idea how much they will attract trading volume. This is up to the market. ”
Tarbert has recently stated that CFTC mayapprove the second largest cryptocurrency futures. However, at the last event, he announced that he was not aware of the existence of companies that would take the initiative in this direction.
“I assume that they will be launched soon, but I don’t know who will stand behind it,” he added.
Tarbert also clarified that the decision on approvalEthereum futures will be accepted based on specific orders. Companies may resort to a self-certification tool or ask the CFTC to approve it. The process will be the same as when launching bitcoin futures.
“In the past, many preferred not to useself-certification. They came to us, especially if they created a new exchange from scratch or a clearing center for derivatives. Therefore, I think that to a large extent this will be determined by those who want to add them to their trading platform, ”he said.
According to Tarbert, currently aboutFour cryptocurrency-oriented exchanges are interested in working with derivative products, as well as larger companies that already offer their customers the opportunity to trade bitcoin futures.
In addition, the head of CFTC confirmed that his agency can recognize the status of exchange goods for cryptocurrencies.
“In the near future, others will appear on the marketDerivatives for cryptocurrency assets, he said, noting that potentially it may be necessary to value thousands of digital currencies. - SEC is working on this issue, we and other regulators too. I can’t say for sure that this will happen so soon, because even the evaluation of bitcoin and ether took us a lot of time. ”
Tarbert explained that the ability to launch those orother crypto derivatives will depend on the SEC, which continues to evaluate digital currencies for compliance with the definition of a security, and added that the instrument can switch from a security category to exchange commodities and vice versa, but did not give specific examples.</p>