The Decision of the US SEC That Ethereum Isn’t a Security Paves Way for the Futures of Ethereum – Chris Concannon

Chris Concannon – the president of CBOE Global Markets said that Ethereum futures, which the firm has been considering for a very long time (since December last year), could be offered very soon – according to a report by Bloomberg on the 14th of June.

The Comment of Concannon

The comment of Concannon accompanies the news that a top United States Securities and Exchange Commission official said that the two most valuable digital currencies in the world – Bitcoin (BTC) and Ethereum (ETH) will no longer be considered or treated as securities.

The president of CBOE said that the stance of the U.S. SEC could mean that the United States regulator would let options exchange to include the futures of Ethereum to their platforms.

Mr. Concannon said: “they are pleased and excited about the decision of the United States Securities and Exchange Commission to provide clarity regarding the present transactions of Ethereum. This announcement clears the major obstacles for the futures of Ethereum, this case for which they have been considering since they launched the first futures of Bitcoin back in December last year.”

The Launch of Bitcoin Futures

The launch of Bitcoin futures by CBOE in December ignited a massive rally for the digital currency – whose value at that time surged from $15k to $16,800 – attracting a huge trading volume to the site that it went down temporarily.

The first contract of the futures expired on the 17th of January at a value of about $10,900, making it a win for the bears.

The futures of Bitcoin (BTC) were in the news earlier this week for other reasons, as Tom Lee at Fundstrat pointed to the expiration of their contract as a possible reason for the recent sinking value of Bitcoin (BTC). Bitcoin is currently trading at $6,392 after a decrease of 1.3 percent in the last twenty-four hours.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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