Urgently needed Ethereum status determination


Bloomberg, referring to the statement of Brian Quintenz, the representative of the Commodity Futures Trading Commission of the United States (CFTC), writes that Federal agencies need to determine the legal Ethereum status as soon as possible, since they require sites that want to list derivatives that are tied to the rate of the second largest cryptocurrency.

After speaking at the Consensus conference in New York, Commissioner Quintenz reported that the exchanges “showed interest” in Ethereum derivatives, CFTC representatives met with representatives of the Securities and Exchange Commission (SEC) and discussed the status of the cryptocurrency.

“There are a lot of big issues to sort out. We’re sorting them out, but I don’t have a timeline. I wouldn’t say days, but I wouldn’t say months,”

Previously, the WSJ reported that the representatives of the CFTC and the SEC will discuss the status of Ethereum on May 7, but since then, official information on this issue has not been published.

“The market needs some certainty and some clarity in our space,” Quintenz said. “Exchanges and the market itself are demanding a product” tied to Ether, he added.