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The US Commodity Futures Trading Commission (CFTC) is seeking public comments and indications on the Ethereum blockchain (ETH), according to an official press release published December 11.
In order to improve understanding of the Ethereum commission and its core technology, the CFTC announced the intention to publish a respective Request for Information (RFI) with the Federal Register.
In the upcoming RFI, the commission will request public comments on a wide range of questions such as "technology, opportunities, risks, mechanics" from Ethereum, its market characteristics as well as use cases of Ethereum network applications.
Furthermore, the CFTC has expressed a desire to better understand the differences and similarities between Ethereum and the seminal cryptocurrency Bitcoin (BTC), in particular the "opportunities, challenges and risks" associated with the ethereal altecoin.
According to the declaration, all public comments to the RFI relating to Ethereum will be accepted within 60 days of publication in the Federal Register. In addition, the commission found that the results of the RFI will help the fintech initiative of the CFTC called LabCFTC.
Founded in May 2017, LabCFTC is a dedicated hub for "engagement with the fintech innovation community", with the aim of examining "new developments in the fintech regulation on the market", as noted by the President of CFTC Christopher Giancarlo at the start of this year.
At the end of November, LabCFTC published a manual on smart contracts, following its first cryptography in October 2017. In the document titled "Primer on Smart Contracts", the CFTC innovation hub formed an operational definition of the technology in addition to outlining its risks and benefits.
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