Ethereum is a Commodity - CFTC Chairman Heath Tarbert States

 Ask and ye shall receive folks... This came out last week via Yahoo Finance. 

The leaking out of catorization of cryptos will lead to stabilization and regulation in the market. So now we can look forward to the next MOONSHOT which WILL be Ethereum. 

CFTC Chairman Heath Tarbert has said ether, the world’s second-largest cryptocurrency by market capitalization, is a commodity.

Speaking at the Yahoo! Finance All Markets Summit Thursday, Tarbert said he believes ether is not a security.

“We’ve been very clear on bitcoin: bitcoin is a commodity. We haven’t  said anything about ether – until now,” Tarbert said. “It is my view as  chairman of the CFTC that ether is a commodity.”

Tarbert continued to say the CFTC is working with the SEC on the two  cryptocurrencies and have agreed both are not securities. Going forward,  the CFTC may allow ether futures to trade on U.S. markets, he  suggested.

In May, a senior CFTC official told CoinDesk the agency was ready to approve an ethereum futures contract if it met the correct conditions.

Concerning currencies created by hard forks, Tarbert argued the CFTC’s treatment of each new coin should depend on its creation.

The chairman said:

“It  stands to reason that similar assets should be treated similarly. If  the underlying asset, the original digital asset, hasn’t been determined  to be a security and is therefore a commodity, most likely the forked  asset will be the same. Unless the fork itself raises some securities  law issues under that classic Howey Test.”

https://www.coindesk.com/cftc-chairman-confirms-ether-cryptocurrency-is-a-commodity 

 What is a Security (finance)? 

Securities are broadly categorized into:

• debt securities (e.g., banknotes, bonds and debentures)
• equity securities (e.g., common stocks)
• derivatives (e.g., forwards, futures, options, and swaps).

https://en.wikipedia.org/wiki/Security_(finance) 

What is a Commodity?

In economics, a commodity is an economic good or service that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.[1][2]

The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price.

Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemicals and computer memory.

 https://en.wikipedia.org/wiki/Commodity