Jeremy Hogan questioned U.S. CFTC on Ethereum’s legal standing

Is Ethereum (ETH) a Secured Cryptocurrency? Commissioner Brian Quintenz of the Commodity Futures Trading Commission Responds

Attorney Jeremy Hogan, a seasoned crypto regulatory specialist, and partner at the Hogan & Hogan law firm questioned US Securities and Exchange Commission Chairman Gary Gensler on Ethereum’s legal standing (ETH). Commissioner Brian Quintenz of the Commodity Futures Trading Commission responded more quickly.

A question that is not so straightforward

Mr. Hogan went to Twitter to inquire of Gary Gensler, chairman of the US Securities and Exchange Commission, whether Ether, a central asset of the Ethereum (ETH) blockchain, is security.

Mr. Gensler, the attorney said, is very knowledgeable with Ethereum (ETH). Additionally, the regulator recently said that the United States securities law is very plain. That is why Mr. Hogan requested a direct and unambiguous response on Ethereum’s status (ETH).

However, CFTC Commissioner Brian Quintenz has said that his colleague is from the Securities and Exchange Commission.

“Non-security commodity”

Mr. Quintenz said that the SEC and his agency, the CFTC, share regulatory authority over futures contracts on securities.

Simultaneously, the futures contract on the price of Ether (ETH) is exclusively regulated by the CFTC. Derivatives of “pure” commodities are controlled in this way, he said. That is why Mr. Quintenz decided that Ethereum (ETH) should not be regarded as a security.

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