CFTC acknowledges the Ether (ETH) as a commodity

crypto-currencies get zunehemend in the focus of the policy. Finally, it is here, to clarify a number of legal and regulatory issues. At least in terms of Ether and the Ethereum network, the authorities in the US are now in agreement. Ether can therefore be regarded as a commodity and not as securities.

By Anton Livshits
11. October 2019ETH$181,44 -5.32%part Facebook Twitter LinkedIn xing mail

The U.S. financial oversight Commodity Futures Trading Commission (CFTC) adopted a decision on the legal Status of Ethereum and Ether like. Heath Tarbert, the new Chairman of the CFTC, announced that the authority considers Ether as a commodity (Commodity) and not as a security (Security).

Tarbert announced the assessment of its authority on the occasion of the event, All Markets Summit on may 10. October in New York. The judgment of the CFTC to Ether corresponds to the view of its Sister Agency, the Securities and Exchange Commission (SEC). These, too, came to the conclusion that Ether and Bitcoin are not securities. The two largest crypto-currencies, therefore, fall under the legal jurisdiction of the CFTC. Tarbert is also assumed that Ether Futures could arrive in the USA soon on the market.

CFTC Chairman also commented on the Initial Coin Offerings

In the further course of the conversation Tarbert expressed to currencies other Crypto. The Chairman of the CFTC spoke out for equal treatment of similar Assets, if any, Ambiguity in the market, in Spite of. In the case of the assessment of whether something is classified as a commodity or a commodity or as investment, it is important, therefore, to the following fundamental question:

this Is something that will be used for the procurement of capital, and invest in a company or buy something that holds in itself a tangible value?

As a commodity, everything that "is" value and, consequently, as the value of the memory use is, therefore, valid. Such an assessment also has consequences for the Token from the Initial Coin Offerings (ICOs). Tarbert says that they were initially regarded as securities, and finally to raise capital was the primary motive behind ICOs. In the course of time, such a Token could change their Status, however, quite. You could develop into a store of Value, and thus a commodity.

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in Addition, the CFTC Chairman also commented on the legal Status of Hard Forks. Crypto-currencies such as Bitcoin, Cash (BCH) and Ethereum Classic (ETC), which are created by the separation of the original Blockchain would have to be treated for it in a regulatory point of view in the normal case, the same as the corresponding originals.

Tarberts statements came just a day after the U.S. tax authority had issued IRS new guidelines for the taxation of crypto currencies. The focus of the publication of the IRS is located here, also on Hard Forks. The IRS ruled that these revenues "are to be treated as ordinary income according to the market value of the new crypto currency on the date of receipt of" to. Such an evaluation does not correspond to the judgment of the IRS to Bitcoin, however, they remained in this case, however, without criticism. Some skeptics see here the danger of unfounded tax auffoderungen, the third could be triggered by a network Fork.

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