THELOGICALINDIAN - The United States Commodity Futures Trading Commission CFTC wants to apperceive added about added cryptocurrencies afar from Bitcoin starting with Ethereum The Commission has issued an official Request for Input RFI on the matter
Request for Input: Ethereum
In a press release appear on Tuesday (December 11, 2018), the Commission bidding its admiration to become bigger abreast about cryptocurrencies added than Bitcoin. According to the columnist release, the CFTC wants to apperceive added about Ether tokens and the Ethereum network.
A allocation of the columnist absolution reads:
As allotment of the RFI, the CFTC will absolution questions aimed at compassionate the use cases, mechanics, opportunities, risks, as able-bodied as, the basal technology of Ethereum. The Commission additionally said that the advice aggregate will be of account to the CFTC’s fintech arm – LabCFTC. Members of the accessible will accept 60 canicule to acknowledge to the RFI.
ETH Futures on the Horizon?
The RFI lists a absolute of 25 questions about both Ether and Ethereum. The questions abatement beneath altered categories such as custody, governance, technology, etc. Across the assorted categories, the CFTC appears absorbed in alive the similarities and differences amid Ethereum and Bitcoin.
Under the “Markets, Oversight, and Regulation” section, the aggregate of the questions (17 to 21) covered affairs apropos to Ether futures. The CFTC appears absorbed in alive how the actualization of ETH derivatives would affect the network’s proof-of-work (PoW) accord model, as able-bodied as the risks complex in trading ETH futures.
While this is conjecture, the catechism could announce that the Commission is attractive at acknowledging ETH futures. For the best of 2018, rumors about accessible Ether futures accept fabricated the circuit aural the industry. These rumors became alike added acute back the SEC singled out BTC and ETH as not actuality securities.
‘Do No Harm’ Approach
The RFI is in befitting with the CFTC’s access to the cryptocurrency industry. Commission Chair – J. Christopher Giancarlo has in the past, bidding absolute sentiments appear basic currencies. Back in September, the CFTC alike alleged for a ‘do no harm’ access to acclimation cryptocurrencies.
While actuality tolerant, the CFTC hasn’t shied abroad from prosecuting cases of artifice or abuse in the market. Recently, the Commission declared its charge to patrolling the cryptocurrency scene.
What do you anticipate about the CFTC’s drive to aggrandize its compassionate of the arising cryptocurrency landscape? Let us apperceive your thoughts in the animadversion area below.
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