CFTC chair Heath Tarbert believes ETH, like Bitcoin, falls under the oversight of the CFTC as not a security. As a result, he expects allow derivatives to be traded on the U.S. market in the near future.
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CFTC chair says ETH is a commodity
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His remarks on the importance of the technology and the role the U.S. has to play echoed those former CFTC head and "Crypto Dad" Christopher Giancarlo made in a recent interview with The Block. In March, CFTC commissioner Brian Quintenz hinted at the arrival of ether derivatives, saying that the regulator has been seeking comments regarding "potential new virtual currency-based futures and derivatives products."
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