US CFTC Chairman Praises for Ethereum, Says It's Bigger Than Bitcoin

US CFTC Chairman Praises for Ethereum, Says It's Bigger Than Bitcoin

By Abhimanyu Krishnan | News | 15 Oct 2020

United States Commodity Futures Trading Commission (CFTC) Heath Tarbert, in an interview conducted during invest: ethereum economy conference on October 14, offered unreserved praise for Ethereum (ETH).

  • Tarbert was interviewed by CoinDesk’s Michael J. Casey, and provided his stance on Ethereum and DeFi, regulation, and more in a wide-ranging interview
  • He compared Bitcoin to e-mail, while Ethereum going far beyond that
  • Tarbert did not offer a definitive opinion on how Ethereum and DeFi fit into US commodities laws and whether it was a security, but was impressed by the asset
  • He did say that the more decentralized the network becomes, the more likely it is to be classified as a commodity - which would soothe any investors’ anxieties about securities violations
  • Speaking generally about Ethereum, said, “Let me just basically say how impressed I am by Ethereum, full stop, period"
  • US authorities have cracking down on several projects for securities violations, including BitMEX
  • Regarding DeFi, Tarbert was effusive in his praise, calling DeFi “obviously revolutionary” with the potential to “ reduce systemic risk”
  • The whole interview indicated that Tarbert is knowledgeable about developments in the space, with one primary concern of his being the flouting of US laws by offshore exchanges

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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