According to a report from Decrypt on February 1, US Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert recently stated that he wants "the United States to be in digital assets such as Ethereum and blockchain technology Are in leadership positions. " It released positive signals on Ethereum futures on Wednesday.
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In an interview with Bloomberg TV, Heath Talbot said he expected ether futures to enter the US market. Futures are agreements to buy or sell a certain number of commodities at a fixed price on a specific date. In other words, a bet on future prices.
Talbot reiterated that he believes that Bitcoin and Ethereum are commodities under the jurisdiction of the CFTC, which is why the CFTC has so much activity in the field of digital assets.
Talbert said he hopes that the United States can play a leading role not only in digital assets and blockchain technology. He concluded:
"Of course, we now have bitcoin futures, both cash settled and physical delivery bitcoin futures. My prediction is that we will also see the launch of Ethereum futures. As the commodity sector is booming, we You will see more commodity futures. "
It's worth noting that even though the committee has previously stated that Bitcoin and Ethereum are commodities, this does not mean that they cannot be classified as securities or other categories.
Bitcoin futures have experienced a bumpy history. The Chicago Board Options Exchange (Cboe) began trading bitcoin futures in 2017, and finally decided to discontinue this service in March 2019. In September of the same year, Bakkt launched a physically settled Bitcoin futures transaction, followed by a cash-settled Bitcoin futures transaction. As of the end of November, its transaction value had reached USD 124 million. (Bitcoin options are different from bitcoin futures. It gives buyers the right to buy bitcoins, not obligations.) Cash settlement refers to the transfer of fiat currency, while physical settlement refers to the delivery of actual assets, which here refers It's Bitcoin.
Although foreign investors can trade Ethereum futures on exchanges outside the United States, there are no Ethereum futures on the US market. That could change, according to the CFTC chair. In April 2019, Talbot took over the chairmanship of the CFTC from J. Christopher Giancarlo. During his short tenure, he repeatedly emphasized the importance of allowing digital assets to take root. .
In November last year, he told crypto investors, "As a regulator, I will work hard to create an environment conducive to innovation and development."
Author: Jeff Benson