In a new development, the US Commodities and Futures Trading Commission (CFTC) chairman Heath Tarbert has announced that Ether is a commodity and not a security thus paving way for the launch of the first Ether Futures contracts. He was speaking to the Yahoo! Finance All Markets Summit on Thursday.

The security-commodity debate has been ongoing for a long time and there has been a broad consensus between the Securities and Exchange Commission (SEC) and CFTC on this that Bitcoin and other popular cryptocurrencies are commodities and not securities.

According to CFTC chairman Tarbert:

“We’ve been very clear on bitcoin: bitcoin is a commodity. We haven’t said anything about ether – until now….., It is my view as chairman of the CFTC that ether is a commodity.”

There has been some positive news regarding this in the previous months as a senior official once went on record to say that the CFTC was allowing Ether to be considered a commodity.

It is not yet clear how this will benefit the crypto world as Bitcoin Futures itself has not yet become a lucrative investment option in the futures market as of right now despite being the premier cryptocurrency of the world. It remains to be seen how an ETH-futures contract is received by the community especially considering the fact that the ETH has no hard limit on the maximum number of coins created.

Tarbert discussed a wide range of topics during the panel including Facebook’s stable coin project Libra. is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

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