CFTC Chairman Tarbert announces resignation, confirms that Ether is a commodity

In a Dec. 10 public statement, Chairman Heath Tarbert announced that he will be leaving the Commodity Futures Trading Commission early next year. 

In listing accomplishments over the course of his term, Tarbert included that: “we have promoted responsible fintech innovation and declared Ether a commodity.”

This tracks with Tarbert’s broader interest in the crypto markets and earlier statements affirming that Bitcoin and Ether should not face regulation as securities.

Tarbert, who joined the CFTC in 2019, has been a noted voice for sound crypto regulation at the federal level. He joins a laundry list of appointed regulators who are leaving their posts to make way for a new administration. Tarbert’s colleague, Commissioner Brian Quintenz, is also poised to depart soon.

There is no word yet on President-elect Biden’s preferences for leadership at the CFTC or the related Securities and Exchange Commission, though he has made Tarbert’s predecessor, Gary Gensler, a leader of his financial team.