The second largest stock exchange Nasdaq is in our crypto news today for its plan to set up a Bitcoin futures market with the start of 2019.
According to sources, Nasdaq is now cooperating with the Commodities and Futures Trading Commission in order to obtain approval of the regulatory body so they can operate as a cryptocurrency futures operator.
“Nasdaq has been working to satisfy the concerns of the U.S.’s main swaps regulator, the Commodity Futures Trading Commission, before launching the contracts, the people said. The New York exchange operator, which was first reported to be eyeing Bitcoin futures last year, wants to allow trading in the first quarter of 2019, one of the people said.”
If Nasdaq enters the long-lasting bear market, this means that the company is meeting the institutional demand from the US market. However, depending on how Nasdaq delivers its plans, by the second quarter of 2019, the cryptocurrency market could have the two largest stock exchanges on the market such as Nasdaq and NYSE.
The US Securities and Exchanges Commission has already denied exchange-traded funds based on the futures market claiming that the futures market is not a big market for large investments. The stance of the SEC could possibly change in the next 10 months if Bakkt and Nasdaq show some real demand from local investors.
The crypto exchange built by ICE Bakkt, is expected to launch its Bitcoin futures market on January 24. The company has stated that they needed additional time to set the infrastructure that is needed to serve a large group of investors and this is why the launch will be in January.
The Cyprus SEC Is Calling For EU Anti-Money Laundering Framework Implementation
“a) exchange between crypto assets, b) transfer of virtual assets, and c) participation in and provision of financial services related to an issuer’s offer and/or sale of a crypto asset.”Cyprus is one of the seven EU member countries that have already released a declaration that aims to promote the use of DLT in the region. Last fall, the national investment partner in the country, Invest Cyprus, signed a Memorandum of Understanding with VeChain Foundation from Singapore in order to work on multiple national level investment strategies that will be blockchain based.
US Exchange Giant Coinbase Acquires Blockchain Startup Neutrino
Central Bank Of Japan Examines Digital Currencies According To New Report
Guangdong Province In China To Use Blockchain-Based Tax Payment Platform
“Blockchain technology has established a highly mutual trust data sharing mechanism among tax authorities, invoice service providers, taxpayers and other parties. This is a major reason for the tax authorities to take a new step in deepening the [technological] reform [by] the distribution services.”Back in December 2018, one of the bigger cities in the Guangdong province-Shenzhen announced its success story of how blockchain technology helped with the tax invoices via the messaging app WEChat payment platform. Also, last year in November, the capital of the Guangdong and one of the most developed economic zones in China, Guangzhou, was chosen as a headquarters city for the new blockchain alliance. The alliance involves 54 different companies and is promoting blockchain technology in finances and trading. Countries around the world are opting for blockchain-based tax solutions because of the higher efficiency and transparency.
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- The Cyprus SEC Is Calling For EU Anti-Money Laundering Framework Implementation
- US Exchange Giant Coinbase Acquires Blockchain Startup Neutrino
- Central Bank Of Japan Examines Digital Currencies According To New Report
- Crypto Market Adds $8 Billion But Litecoin Is Struggling To Gain Momentum
- Craig Wright Calls Out Ethereum For Being Unable To Scale
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