Several of the major crypt and traditional financial companies have responded to the request of the United States Commodity Futures Commodity (CFTC) on the mechanics of cryptors until February 25.
The CFTC published its investigation at the end of December 2018. In it, the LabCFTC initiative of the regulator, focused on fintech innovations, requested public comments on the fundamental principles of the Ethereum network. The objective of the control body was to understand the similarities and distinctions between different cryptomonedas and "technology, mechanics and markets for virtual currencies beyond Bitcoin."
Continue reading: Brian Quintenz, commissioner of the CFTC, suggests the creation of a self-regulating organization of cryptomonedas
In particular, the request for contributions focuses on Ethereum (ETH), together with the opportunities and risks associated with its ecosystem.
At the end of this edition, 35 crypt and traditional financial companies have provided detailed comments on the matter to the CFTC. The Blockchain R3 consortium, the nonprofit organization Ethereum Foundation, the American crypto exchange Coinbase and ErisX, the ConsenSys block chains technology company, the crypto-finance company Circle and Weiss Cryptocurrency Ratings were some of the companies that presented responses.
In his comments, the CEO of R3, Charlie Cooper, also praised the CFTC for his initiative. He made some predictions about the evolution of digital assets in 2019, saying that he believes that the listings supported by assets, such as those linked to gold or real estate objects, together with the tokens of native assets, will form the future of the industry.
You may be interested: CEO of the Japanese financial giant SBI puts forward his hopes for cryptography in Ripple and R3
Gus P. Coldebella, Circle's legal director, wrote that the Ethereum network, which supports different types of digital assets, can contribute to the creation of value worldwide. Tokenization can also make assets more accessible online and internationally, as the Internet makes the transfer of information easier and more accessible.
Brian Brooks, the legal director of Coinbase, focuses on the risks and regulations surrounding the Ethereum ecosystem. For example, the company believes that the CFTC's intention to properly supervise spot and derivative markets for ETH can be negatively affected by the fact that most operations are carried out outside of the United States.
As Cointelegraph reported at the beginning of February, ErisX, based in Chicago, also presented a comment in response to the request of the CFTC. The exchange considers that "the introduction of a futures contract regulated over Ether would have a positive impact on the growth and maturation of the market."
Do not stop reading: ErisX to CFTC: regulated futures of ETH would result in a more solid and liquid market