According to recent reports, Cboe Global Markets might now be very close to launching their Ether futures product. This reveal comes following the last remark from a United States Securities and Exchange Commission official. According to the official, the SEC does not consider Bitcoin and Ethereum’s native digital currency a security. The news was positively received by the cryptocurrency community including enthusiasts, and proponents system as well as investors. The impact in prices have been positive, and in the coming weeks, notable changes could be witnessed in the amount of the top digital currencies.
William Hinman, the SEC’s cooperate finance director, this Thursday, notably said that according to his understanding regarding the Ethereum Blockchain network and considering its decentralised structure, offers and sales of the Ether token “are not securities transactions.”
This news was also welcomed by the Ceo and president of Cboe, Chris Concannon. Concannon, in a statement, revealed that the digital currency exchange network is “pleased with the decision reached by the SEC as it has provided some clarity around the debate as to whether the token was a security.” According to Concannon, a cloud has been removed from Ethereum which will now allow the network move forward. You can remember back in April; it was reported that a former finance regulator suggested that Ripple and Ether were both securities and should be regarded as such.
Concannon in his words:
“The SEC’s announcement clarifies a significant stumbling block for the Ether futures initiative, which we have been considering since the launch of Bitcoin futures last December.”
Ether futures are live on another platform, Crypto Facilities. Crypto Facilities is a notable partner of CME Group. A bitcoin index similarly helped CME launch their Bitcoin futures last December. After the news of Hinman’s comments came to light, Ethers price spiked from 70 USD to around 520 USD although as of press time it had already returned to the 494 USD level.