latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

CFTC Chair Who Called Ethereum a Commodity Steps Down

CFTC Chair Who Called Ethereum a Commodity Steps Down
Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert stepped down from the top role at the agency today, where he has served since 2019.
"Given the critical role the CFTC plays in the American economy, I believe each President should choose his or her own nominee for Chairman," Tarbert, a Republican, wrote in his resignation letter. Democrat Rostin Behnam is serving as acting chairman until President Joe Biden selects a replacement.
Among cryptocurrency advocates, Tarbert is likely best known for calling Ethereum a commodity.
CFTC wants comprehensive regulation of crypto within 4 years
“We've been very clear on bitcoin : bitcoin is a commodity. We haven't said anything about ether—until now,” he told Yahoo Finance in October 2019. “It is my view as chairman of the CFTC that ether is a commodity.”
Tarbert's comments didn't mean the CFTC had dibs on regulating Ether, however. As Compound Finance General Counsel Jake Chervinksy noted at the time , “Securities are a type of commodity. Financial instruments can be one, both, or neither. Not to mention that the SEC already said ETH isn't a security last summer.”

Whereas commodities are tradable goods, such as gold and oil, securities are financial instruments people buy, such as stocks and bonds, on the presumption that they'll increase in value. Cryptocurrencies can be both, but the specifics are still being hashed out among federal agencies. Therefore, in July 2020, under Tarbert's leadership, the CFTC unveiled a four-year plan for regulating cryptocurrency assets.
Tarbert will stay have sway at the agency—he remains one of five commissioners, and his term doesn't expire until April 2024. shares this Contents always with License.

Thank you for Share!



Cool to know huh? Read the full Article

Cool huh? Please read the full Article: CFTC Chair Who Called Ethereum a Commodity Steps Down

Search about Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


Today Most Popular News