CFTC will gather information with public comments on the Ethereum and ETH network


CFTC will gather information with public comments on the Ethereum and ETH network

The Commodity futures trade commission in the United States (CFTC) is trying to better understand Ethereum's native cryptocurrency ether and its use within Ethereum [ETH] Network.

In a recent press release published on December 11, the committee asked the public to provide information on a series of questions concerning the Ethereum network.

Grouped into several categories, the commission is releasing an information request (RFI) from the public it touches Technology, opportunities, risks, mechanics, use cases and Ethereum markets related to Ether and the Ethereum network. The RFI document has been sent to the federal registry for registration and as soon as it is listed, the public will have 60 days to provide feedback on the 25 questions submitted.

The commission is eager to first understand the differences between ether and other cryptocurrencies like bitcoin. Therefore, try to understand the risks inherent in the use of ether, the opportunities and challenges that affect the Ethereum network.

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Furthermore, the RFI deepens the issues that the Ethereum community is currently discussing, such as the transition from the Ethereum network to Proof of mail-proof work consent mechanism, Scalability of Ethereum challenges (and the upcoming code updates that are designed to solve these problems), how the community is managing blockchain governance and cybersecurity measures taken to protect the blockchain.

The purpose of the RFI is to help the commission understand and regulate derivatives markets that allow investors to trade for both ether and aether derivatives. The commission seeks to ensure the integrity of the markets and at the same time helps the US government to monitor and reduce any systemic risk by increasing the certainty of the law in the market.

The comments and information received will be expected "Benefit from LabCFTC, the CFTC FinTech Initiative." The LabCFTC initiative is the internal department of the commission dedicated to facilitating the innovation of financial technology (FinTech) that improves the market, informs the policy and ensures that the agency has regulatory instruments and tools. technology to keep up with changing markets.

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