The Commodity Futures Trading Commission (CFTC) is making headlines today on our DC Forecasts crypto news site for a new Request for Information (RFI) in which it asks for public comment and feedback to enable it better understand Ether and the Ethereum blockchain while expanding its cryptocurrency knowledge base beyond Bitcoin.
The press release which was published yesterday states that CFTC is seeking the feedback to inform everyone about the mechanics, technology and markets for cryptocurrencies outside of Bitcoin which has historically dominated this conversation.
The Request for Information (RFI) will accept responses for 60 days after being published in the Federal Register. An excerpt from it clarifies its main focus, stating:
“In a Request for Information (RFI) that will be published in the Federal Register, the CFTC is asking for public feedback on a range of questions related to the underlying technology, opportunities, risks, mechanics, use cases, and markets, related to Ether and the Ethereum Network. […] The RFI also seeks to understand similarities and distinctions between Ether and Bitcoin, as well as Ether-specific opportunities, challenges, and risks.”
As we can see from the statement, the information gathered in the course of the exercise will be used to improve the knowledge bank that CFTC has on the subject of cryptocurrencies, positioning it for effective regulation as the space grows.
Even though this announcement may be a hint, if it turns out that the CFTC is in the early stages of exploring approval for Ether futures, it could have a significant positive impact on Ethereum following its recent dethronement by XRP, becoming the third most capitalised cryptocurrency.
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