The chairman of CFTC will step down early next year after he announced that Ethereum is a commodity

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In a public statement on Thursday, Heath Tarbert, chairman of the US Commodity Futures Trading Commission (CFTC), announced that he will leave the committee early next year.

In listing his achievements during his tenure, Tarbert said: “We promoted trustworthy fintech innovation and declared that Ethereum is a commodity.”

This is consistent with Tarbert’s broader interest in the crypto market and the previous statement that Bitcoin (BTC) and Ethereum (ETH) should not be regulated as securities.

Tarbert joined the CFTC in 2019. At the federal level, the CFTC has always been a well-known advocate for sound cryptocurrency regulations. Tarbert is a member of the resignation list of regulators appointed to make way for the new government. CFTC Commissioner Brian Quintenz is also preparing to leave soon.

US President-elect Joe Biden’s preference for CFTC or SEC (Securities and Exchange Commission) leaders is still unknown, but he has appointed former CFTC chairman Gary Gensler as the head of his financial team.

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