The chairman of the Commodities Futures and Trading Commission Heath Tarbert, speaking with Yahoo Finance, said that the second largest cryptocurrency ETH should be treated as a commodity. This is good news for the crypto community as it opens the doorway for Etherum derivatives in the US market.
He said that they have been clear on bitcoin that it is a commodity. He added that CFTC has been silent on Ether, and in his view, it is a commodity. Talbert seemed positive on the blockchain and cryptocurrency market. He urged the US to take the role of leadership in this field. He said that he wants to stress the importance of blockchain and digital assets to the United States, and he wants to see the country lead in this technology.
However, the CFTC chairman asserted that bitcoin and Ether are not securities, and CFTC would work with the United States Securities Exchange Commission to look into that. He acknowledged that there is ambiguity in the crypto market regarding some coins, but he believes that similar digital assets should be treated similarly.