Ethereum ETH SEC CBOE 18 Jun 2018
Recent US SEC's William Hinman's Ethereum comments have apparently given the green light for CBOE Ether futures. When will the exchange launch this product?
18 June, AtoZ Markets – It appears that CBOE Global Markets might now be getting close to the launch of an Ether futures product. The recent comments from the official of the US Securities and Exchange Commission (SEC) have indicated that the agency does not see Ethereum as a security.
Last Thursday, the director of SEC corporation finance, William Hinman has stated that considering "the ethereum network and its decentralized structure, current offers and sales of ether are not securities transactions."
The news was highly welcomed by the president and COO at CBOE, Chris Concannon. He has stated that the exchange is "pleased with the SEC's decision to provide clarity" in regards to the topic. This issued has been a long-standing point of discussions when another regulator has suggested that Ripple and Ethereum are both securities.
Mr. Concannon has added:
"This announcement clears a key stumbling block for ether futures, the case for which we've been considering since we launched the first bitcoin futures in December 2017."
In his previous remarks, Concannon has also stated that the CBOE might look into launching Bitcoin Cash futures sometime in the future.
Ethereum futures are already being traded on another platform. The UK startup Crypto Facilities has launched this product earlier last month. This firm is also collaborating with the CME Group, and is managing CME Group’s Ether Reference Rate Index. A similar Bitcoin index made it possible for CME Group to launch Bitcoin futures at the end of 2017.
In addition, SEC’s Hinman’s Ethereum comments have spurred an Ethereum rally, pushing the cryptocurrency up by around $70. There has been a lot of uncertainty in regards to whether Ethereum can be seen as a “noncompliant” security due to the failure to register its Initial Coin Offering (ICO) back in 2014 with the SEC.
Earlier this month, the Chair of SEC, Jay Clayton, has stated that he believes Bitcoin is not a security, as well. He explained that Bitcoin acts as a replacement for sovereign currencies. The suggestion that Bitcoin should be regulated as a security has never gained a solid ground.
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