After Declaring Ethereum a Commodity, Crypto-Friendly Regulator Says He’s Leaving CFTC

A crypto-friendly regulator who had a big impact on the space in a relatively short timespan says he’s preparing to move on.

Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert declared Ethereum (ETH) a commodity in October of last year.

“We’ve been very clear on Bitcoin: Bitcoin is a commodity. We haven’t said anything about Ether – until now. It is my view as Chairman of the CFTC that Ether is a commodity.”

Tarbert has overseen a boom in ETH futures contracts and Bitcoin options products since his confirmation in June of 2019.

He tells Reuters that he’s now looking to move to the private sector. He plans to depart early next year and will stay on board to ensure a smooth transition as the Biden administration takes over.

“It’s important to have a smooth handover and a smooth transition. It’s obviously been a tremendous adventure and, I think, successful time in government… But I would like to return to the private sector in some relevant leadership role.”

Tarbert says he believes it’s important for the US to take a leadership role in the regulation of blockchain and crypto assets to ensure America maintains its technological edge in the long run.

“I wanted to stress the importance of blockchain and digital assets to the United States and in particular as CFTC Chairman, I want the US to lead in this technology.

I don’t want another country to lead – I want the United States to lead because whoever leads in this technology is going to end up writing the rules of the game.”

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