Seeking Alpha
2020-12-10 15:57:06

Crypto losing a regulatory friend as CFTC's Heath Tarbert announces exit

Commodity Futures Trading Commission Chairman Heath Tarbert announces his intention to resign early in 2021.Those in the crypto community consider Tarbert a friendly regulator, with his office having overseen a sizable expansion of crypto-related derivative products. In his resignation statement, in fact, Tarbert mentions the declaration of Ether (ETH-USD) as a commodity as one of his signal achievements.His exit, of course, clears the way for the Biden administration to name a replacement.Checking prices today, Bitcoin (BTC-USD) continues to hover just above $18K. Ethereum is down modestly at $555.21.Speaking of regulation, there's still be no Bitcoin ETF approved. Microstrategy might make for a decent synthetic ETF, yesterday announcing an upsized debt offering (to $550M) with which it will likely bring its Bitcoin holdings above $1B.

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer