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CFTC to Allow Ethereum Derivatives Trading in the Near Future

  • Alex Dovbnya
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    The Commodity Futures Trading Commission (CFTC) is expected to green-light Ethereum futures 

CFTC to Allow Ethereum Derivatives Trading in the Near Future
Cover image via www.123rf.com

According to Yahoo! Finance, CFTC Chairman Heath Tarbert has confirmed that Ethereum is a commodity, not a security, thus mirroring the stance taken by the SEC.     

“We've been very clear on bitcoin: bitcoin is a commodity. We haven't said anything about ether—until now.”

Recently, Coinbase, Kraken and other top exchanges formed the Crypto Ratings Council (CRC) that grades digital assets based on their resemblance of a security. Ethereum scored a 2 (out of 5) due to its "decentralized development and usage". Maker, XRP and other coins that are similar to securities got more than a 4. 

Tarbert also adds that the CFTC could approve the launch of Ethereum-based derivatives (futures, options, and other beasts) in the nearest future.

As reported by U.Today, derivatives exchange LedgerX had a spat with the CFTC after it delayed the launch of physically-delivered Bitcoin futures, thus allowing Bakkt to be the first in the race. However, the regulator denied that there was any kind of personal animus involved. 

 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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