The CFTC could accept Ethereum futures that meet the requirements.
The Commodity Futures Trading Commission of the United States (CFTC), a federal agency responsible for regulating futures contract, is currently studying the idea of Ethereum futures trading (ETH).
After the Bitcoin Futures, here come the Ethereum Futures!
The information comes from the comments of a senior official of the institution, who assured that the agency would be willing to accept an Ether futures contract as long as it meets all the requirements.
According to the manager, who preferred to remain anonymous, he said they can “feel comfortable with an Ethereum derivative” under their jurisdiction.
He continued:
“If an exchange of derivatives comes to us saying “we want to launch this particular product”…
If they come to us with a derivative that meets our requirements, I think there is a good chance that it will be approved by our company.
Taking into account Ethereum futures comes 18 months after the first cryptocurrency futures were approved by US regulators, an event in December 2017.
The CFTC previously endorsed Bitcoin futures, launched by CBOE Global Exchange and CME Group.
At that time, the two companies’ Bitcoin Futures were very well received immediately and had enough customers to saturate the CBOE website, for example.
The launch of these Bitcoin futures contracts could also have boosted the price of Bitcoin, which, as we know, had reached its highest level, at nearly $20,000 by the end of 2017.
J. Christopher Giancarlo, leaving President of the CFTC, said in a speech that his agency did not foresee an increase in demand for cryptocurrencies:
“The Commission is planning new applications for registration in the clearing house register following the explosion of interest in cryptocurrencies; an area in which the protection of cryptocurrencies will be one of the most important risks.”
On another occasion, Gensler agreed with this comment, noting that regulation was essential to the development of the sector.
We should therefore soon see Ethereum Futures similar to what we already have for Bitcoin.
The future will tell if as for Bitcoin, the price of Ethereum will go up a lot and then falls back down as Bitcoin did when the Bitcoin Futures appeared.
