[2019-10-10] CFTC says Bitcoin AND ETH are Commodity - page 2.

marky89

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Quote from: CryptoBry on October 11, 2019, 07:17:37 AM

So is this good news or bad news for Eth to be categorized as a commodity and not as a security?

It's obviously good news. The rules applying to securities are much stiffer, which is why several CFTC-regulated markets have launched since 2017 (LedgerX, CME, CBOE, Bakkt) but the SEC has rubber stamped nothing.

Quote from: hv_ on October 11, 2019, 04:09:13 AM

ETH was ICO - doesn't work as promised and goes PoS - Vitalik controlled, is even more what a security defines ( Shares = right to min and earn dividends )

It doesn't seem clear cut that an ICO must be a security offering. (Most of them obviously are but that's neither here nor there)

As for POS, it's a (flawed) form of decentralized consensus administered at the protocol level. Why would that make it a security?

BitHodler

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Quote from: hv_ on October 11, 2019, 04:09:13 AM

ETH was ICO - doesn't work as promised and goes PoS - Vitalik controlled, is even more what a security defines ( Shares = right to min and earn dividends )

It was an ICO, but it's current status is no longer that---what it is known as today is a POW network---therefore is put in the same category as Bitcoin. People may not agree with that but things are as they are.

As for Ethereum being Vitalik controlled, maybe, but his influence on what happens is declining as time goes by. Important is that the CFTC doesn't look at Ethereum like that because they continue to call it a decentralized crypto.

Regarding POS, it's not certain yet that it will happen. The CFTC just focuses on how Ethereum runs today, not how it might run in 2020 and after. I don't consider Ethereum a security either. Bitcoin bulls on the other hand do. Cheesy

CryptoBry

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So is this good news or bad news for Eth to be categorized as a commodity and not as a security? I think it is the former. Now, just like Bitcoin, there is no more question if these digital assets should be taken as securities which can be a big problem especially in the USA. Now, the definition has been outed by the Commodity Futures Trading Commission Chairman Heath Tarbert. And in addition, the Chairman predicted that just like Bitcoin Ether futures trading on U.S. markets can also be a reality in the near future. I am hoping this can help push the value of Eth further in the market.

I understand that you don't agree with this ruling defining and categorizing Ether as a commodity and not security but we have to respect the Commission for this decision and I am sure that a decision otherwise can make many Eth holders and supporters sad, right? So we will just be happy for Vitalik and his cohorts.

hv_

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https://finance.yahoo.com/news/cftc-says-cryptocurrency-ether-is-a-commodity-and-is-open-to-ether-derivatives-133455545.html

On Bitcoin - cannot agree more

ETH was ICO - doesn't work as promised and goes PoS - Vitalik controlled, is even more what a security defines ( Shares = right to min and earn dividends )

Huh

[mod note: fixed date]

Topic: [2019-10-10] CFTC says Bitcoin AND ETH are Commodity - page 2. (Read 281 times)