CFTC Chairman: Ethereum is a Commodity

October 10, 2019 | Digital Assets, Investments, News
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The agency chair offered his views on Ethereum and Libra.

CFTC Chairman Heath Tarbert has said that Ethereum is a commodity. During a talk at the Yahoo! Finance All Markets Summit, the CFTC chair said he doesn’t think ether is a security.

“We’ve been very clear on bitcoin: bitcoin is a commodity. We haven’t said anything about ether – until now,” Tarbert said about the world’s second-largest crypto by market cap. “It is my view as chairman of the CFTC that ether is a commodity.”

Tarbert also said that both the CFTC and SEC don’t think that either Bitcoin or Ether are securities As a result, the agencies may eventually allow Ethereum to trade on U.S. futures markets.

“It stands to reason that similar assets should be treated similarly. If the underlying asset, the original digital asset, hasn’t been determined to be a security and is, therefore, a commodity, most likely the forked asset will be the same,” Tarbert said. “Unless the fork itself raises some securities law issues under that classic Howey Test.”

CFTC Chairman Heath Tarbert Talks Libra Cryptocurrency

In addition to Ethereum, Tarbert also commented on the Libra cryptocurrency. He said that he wasn’t sure if the government would classify the stablecoin as a security.

“Is it a security, first and foremost,” CFTC Chairman Heath Tarbert said. “And if it isn’t a security, it is most likely a commodity.”

[Related: SEC Approves Hedge Fund Backed by Jon Corzine]

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