During his recent interview with Bloomberg, Heath Tarbert, president of the Commission on Trade in Commodity Futures of the US, reiterated that the future of Ethereum (ETH) are in the process. Before this, Tarbert stated: “Certainly, we have seen the future of Bitcoin, both cash and physically delivered. My guess is that we will also see future of Ethereum”. In October, Tarbert said that the future of Ethereum could be on the market sometime in the 2020, expressing the willingness of the CFTC to give the green light to the new product. Also, expressed the following: “I would say that it is likely to see a futures contract in the next six months to a year.” However, this has been promoted hard since the month of November. Specifically in the framework of the “All Markets Summit” made by Yahoo Finance in the city of New York.
More details about Ethereum
Ether is a public platform based on open source Blockchain that includes Contracts Smart. As a commodity, Ether would be regulated in the Usa by the CFTC; if it is discovered that it is an investment, by contrast, would be regulated by the Securities and Exchange Commission (SEC), Securities and exchange Commission in Spanish. This is the main altcoin. Therefore, it should be stressed that the regulators classified Ether as a commodity. So, it was under the jurisdiction of the CFTC along with Bitcoin. However, Tarbert recently stated that things were not so clear about XRP, the third largest criptomoneda. In November of 2017, the CFTC allowed the CBOE and its rival, Chicago-based CME to list futures on Bitcoin, what it ended up becoming a turning point for the market this criptomoneda. Shortly after the CME launched the long-awaited product, Bitcoin has entered a lasting bear market. In CriptoTendencia we had a report constant, as well as an analysis of the impact of this event on the price of the cryptocurrencies. The chairman of the CFTC has talked about the possibility of future of Ethereum since October of last year.
Taking the lead
In his last interview, Tarbert said that he wanted the U.S. to take the lead in terms of the cryptocurrencies and Blockchain. He wants to encourage innovations in the industry of cryptocurrencies.
Implications of this possibility
First of all, we must remember that the futures are simply contracts to buy or sell a specified quantity of an asset at a certain price and specific date. Consequently, they are useful when the underlying asset is volatile, as is the case of Bitcoin, and to a lesser extent with Ether. In addition, more tools for futures trading could help the industry cryptocurrencies to attract institutional investors. The following two tabs change content below. A degree in Liberal Studies from the Metropolitan University. Lover of innovation and a believer of the technology for the future.