Ethereum Security Or Not, CFTC Commissioner Clarifies

[RSRS]

Ethereum security or not? This debate has long raged on, despite the authorities having a favorable response towards Ethereum in the past. However, during a recent discussion on Twitter, the CFTC commissioner clarified the matter on Aug 14. In response to a question from Jeremy Hogan – a lawyer and crypto influencer who requested Gary Gensler – the Chairman of the U.S. Securities and Exchange Commission (SEC) to answer whether Ethereum security was clear or not?

A futures contract on a security is in both the SEC’s and @CFTC’s jurisdiction. A futures contract on a pure commodity is only in the CFTC’s jurisdiction. There is a currently a futures contract on #ETH. It is only under the CFTC’s purview which makes ETH a non-security commodity

— Brian Quintenz (@CFTCquintenz) August 14, 2021
Instead, it was the Brian Quintenz – the CFTC Commissioner who replied back by clarifying the Ethereum security status and also giving an informative scope of jurisdictions of both Commodity Futures Trading Commission (CFTC) and Securities & Exchange Commission (SEC). Mr Quintenz said that since there is a futures contract on Ether – the native token of the Ethereum blockchain, it’s under the CFTC’s purview and it’s a non security commodity.

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