CFTC Chairman Confirms Commodity Status of Bitcoin and Ether, Says XRP Is Uncertain

Apparently, the debate about XRP’s proper categorization is still raging on. While that of Bitcoin (BTC) and Ether (ETH) have been clarified, XRP is still hanging in the balance. This was stated by the chairman of the Commodity Futures Trading Commission (CFTC) in a recent discussion with Cheddar, a news platform.

Speaking during the interview, chairman Heath Tarbert confirmed the status of BTC and ETH. He said:

“So right now, Bitcoin and Ether are the two that we think fall under our jurisdiction.”

This is another confirmation from the CFTC that Bitcoin and Ether are commodities as that falls in line with the CFTC’s job description.

Tarbert has also added a few points about XRP. Just like commodities are regulated by the CFTC, all assets classified as securities fall under the jurisdiction of the United States Securities and Exchange Commission (SEC). The chairman confirmed that the CFTC and the SEC have been working together, to figure out how to properly categorize these assets.

He said:

“We’ve been working closely with the SEC over the last year or so to really think about which falls in what box because I think if I hear anything from market participants, it’s that we really need clarity. That without clarity it’s really difficult to figure out how these will eventually be regulated.”