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Futures on Ethereum will be launched in 2020, the forecast of the head of the Commission CFTC

The Chairman of the Commission on trade commodity futures U.S. (CFTC) Heath Tarbert expects the futures Ethereum (ETH) will be launched in 2020.

“Probably, futures contracts will appear in a period of six months to a year, – said he during a speech in the week Finance at Georgetown University.

I have no idea about how they will attract trading volume. It’s up to the market.”

Recently Tarbert has said that the CFTC may approve futures on the second largest cryptocurrency. However, at the last event, he said that he was unaware of the existence of companies that would’ve taken the initiative in this direction.

“I guess they’ll be running, but I don’t know who is behind it”, he added.

Tarbert also said that the decision to approve the Ethereum futures will be based on specific applications. Companies can use the process of self-certification tool or ask the CFTC to approve it. The process will be the same as when you started futures on bitcoin.

“In the past, many chose not to use a self-certification. They came to us, especially if you created a new exchange or Clearinghouse for derivatives. So I think that largely this will be determined by who wants to add them to your trading platform,” he said.

According to Tarbert, at the present time about four focused on cryptocurrency exchanges were interested in working with derivative products and larger companies, which already offer their customers the opportunity to trade futures on bitcoin.

In addition, the head of the CFTC confirmed that his office may recognize the status of crypto-currencies commodities.

“In the near future the market will be and other derivatives for the cryptocurrency assets, he said, noting that potentially may need to evaluate thousands of digital currencies. – The SEC is considering this issue, we and other regulators too. I can’t say for sure that it would happen so soon, because even the rating of bitcoin and ether took us a lot of time”.

Tarbert explained that the ability to run those or other crypto derivatives would depend, including from the SEC, which continues to evaluate digital currency for compliance with the definition of securities and added that the tool can move from the category of securities, commodities, and Vice versa, but no particular examples.

Publication date 22.10.2019
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Source:mining-cryptocurrency.ru
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