Cryptocurrencies
U.S. Must Move Quickly on Ether Status, CFTC's Quintenz Says
- Regulators weighing whether cryptocurrency is a security
- Decision not imminent, but could be coming in near future
This article is for subscribers only.
Federal agencies should quickly clarify the legal status of Ether as industry players clamor to list derivatives tied to the world’s second-most traded cryptocurrency, a Republican financial regulator said.
Brian Quintenz, a commissioner on the Commodity Futures Trading Commission, said Monday that exchanges have "expressed interest" in listing Ether derivatives. Quintenz said staff at the CFTC and Securities and Exchange Commission have been meeting about whether Ether is a security that falls under the SEC’s jurisdiction. The CFTC has said cryptocurrencies such as Bitcoin are commodities and the regulator oversees its derivatives.