CFTC spokesperson: LedgerX yet to get green light for bitcoin futures

Posted 02 August, 2019

The US Commodity Futures Trading Commission has reacted to the recent announcement about the launch of physically-settled bitcoin futures made by LedgerX.

The representative of the authority claimed that the regulator did not approve the launch. As a result, the company eventually failed to roll out physically-settled bitcoin futures.

It was reported earlier that the company intended to launch futures contracts in the middle of the week

For now, the company representatives say that the previous announcement was made regarding its retail platform called Omni, which deals with swaps and options.

A month ago, LedgerX got a license of a designated contract market, which is said to be a must-have for the launch of futures contracts. At the same time, the second mandatory requirement is the license for derivatives clearing organization.

The CFTC last month approved LedgerX as a designated contract market (DCM), which was one of two approvals the company needed to proceed with the futures launch. The other is an amendment to its derivatives clearing organization (DCO) license.

At the same time, ICE's Bakkt exchange has reportedly announced that it would roll out bitcoin futures very soon. The platform is now waiting for the regulator's decision.

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