Chris Concannon, the President and Chief Operating Officer at CBOE Global Markets, joining the firm in 2017 as part of the Bats Global Markets acquisition, is accountable for CBOE’s trading businesses - U.S. and European Equities, U.S. Options, Global Foreign Exchange and Futures – as well as Technology/Operations, Risk and Marketing.

The President of CBOE mentioned that the market for ICOs is likely to go through major regulatory framework leading to the SEC categorizing ICO tokens as securities and then pursuing industry participants and seeking litigation.

The Ether prices surged in the recent past especially after the U.S. SEC stated that the cryptocurrency was not a security, thus exempting certain transactions in the token from federal securities laws.

“This announcement clears a key stumbling block for Ether futures, the case for which we’ve been considering since we launched the first Bitcoin futures in December 2017,” Chris Concannon, the president and COO at CBOE Global Markets Inc clarified in a statement.

“Investing In America: At the Town Hall Meeting held in Atlanta”, the SEC Chairman has reiterated in his speech where he pointed out that ICOs should be considered as securities, that need regulation.

Regulators have focused on initial coin offerings (ICOs), online fundraisers where new cryptocurrencies are sold. More than 1,600 different tokens are in existence.

Any ICO scheme selling tokens that basically signify the prospective stake in the returns of the ICO project are to be categorized as securities, and Concannon clarifies as the “waves” of regulation coming are not to be taken lightly. Consequently, the US SEC summoned numerous cryptocurrency firms.

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