CFTC Chair: Ether futures to be seen by 2020

Posted 22 October, 2019

Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert believes the crypto world will see Ethereum futures contracts sometime in 2020. 

“I’d say it is likely that you would see a futures contrast in the next six months to a year. Now that we’ve provided at least a little bit more clarity on Ether’s eligibility for futures contracts, my guess is market participants will consider that.” -  spoke about this during his speech at the week of fintech at Georgetown University. 

Tarbert also clarified that the decision on the approval of Ethereum futures would be made on the basis of specific applications. Companies may resort to a self-certification tool or ask the CFTC to approve it. According to him, the process of approval of applications will occur according to the scheme that is used to launch futures contracts on Bitcoin. 

“Now in the past most people have not been self-certifying, they’ve been coming to us particularly if they’re creating an entirely new exchange and DCO [derivatives clearing organization] so it’ll depend I think in large part on who wants to have it on their trading platform. Is it one of our existing exchanges that’s been working with the CFTC for years or is it an entirely new platform that wants to specialize in it?” - he added.

At the moment four contenders could emerge and they are likely to be Seed CX, ErisX, Tassat and LedgerX. During the fireside discussion, Tarbert added that buyers and sellers would hopefully be reassured that using a CFTC-regulated exchange indicates that there is no market manipulation.

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22 October, 2019 16:41

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