Weiss praises CFTC's Ethereum Futures Project but Raises Serious Concerns about Industry

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Feb 26, 2019, 10:30 ET

PALM BEACH GARDENS, Fla., Feb. 26, 2019 /PRNewswire/ -- Weiss Ratings, the world's only financial rating agency providing grades on cryptocurrencies, has submitted its commentary to the U.S. Commodity Futures Trading Commission (CFTC) in response to its request for input on Ethereum derivatives.

In their submission, founder, Martin Weiss, and cryptocurrency specialist, Juan Villaverde, show how derivatives could help enhance market liquidity, provide hedging opportunities, and bring a measure of stability to an oft-chaotic environment.

"What remains to be decided about the introduction of derivatives," says Weiss, "is this question: 'Do we want it fast, or do we want it right?' We can't have it both ways." Weiss is concerned that urgently needed upgrades in Ethereum network protocols may be difficult without causing a community split and trading anomalies; exchanges, where most trading occurs, are not audited; and most debate in the industry is distorted by ideology.

The full submission to the CFTC can be found here.

About Weiss Ratings: Weiss Ratings covers 53,000 institutions and investments and is the only financial rating agency that provides grades on cryptocurrencies. It accepts no compensation of any kind from issuers or sponsors. Its sole revenue source is from the sale of ratings and research to consumers, investors and other end users. Weiss Ratings has been praised by Members of Congress, the Government Accountability Office (GAO) and news organizations for its objective analysis of financial institutions and investments. Visit https://weissratings.com/why-weiss-ratings.

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SOURCE Weiss Ratings