The U.S. Commodity Futures Trading Commission Is Ready To Approve Ethereum Futures
One of the major regulators in the financial sphere in the USA, the CFTC, plans to approve Ethereum futures contracts, according to the insider information posted by Coindesk. Futures are a contract where the price of buying or selling a particular asset is prescribed in advance. Futures contracts have been widely used in traditional markets for a long time. More information is provided below. The CFTC has already approved the futures of the world’s first cryptocurrency and allowed to launch Bitcoin markets, thus, it is quite logical to think about Ethereum futures now. As there is still no official statement, the official who doesn’t want to be identified explained the procedure of choosing new products.
“A derivatives exchange comes to us and says ‘we want to launch this particular product.’ … If they came to us with a particular derivative that met our requirements, I think that there’s a good chance that it would be [allowed to be] self-certified by us.”
It Ethereum futures are proposed and approved, its products will open a broad market for investment. We remind you that the CFTC has been looking at Ethereum futures since December 2018, when they published a report concerning the world’s second crypto. Back then they wanted to compare Bitcoin and Ethereum futures. George Pullen, a senior economist with the CFTC Division of Market Oversight, said:
“After our initial public white papers, primers, on virtual currencies, bitcoin, and smart contracts it was clear that a one-size fits all approach to crypto was not appropriate and we needed to know more.”
Subscribe to The Coin Shark news in Facebook: