In the latest Bitcoin news, we have the second largest stock exchange in the world, Nasdaq, and its plans to introduce a Bitcoin futures market in the first quarter of 2019. According to sources close to Bloomberg, Nasdaq has been working with the Commodities and Futures Trading Commission (CFTC) in order to receive the regulatory approval that will make it an official Bitcoin futures market operator.
The report read the following:
“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.”
Meanwhile, Bakkt, which is a cryptocurrency exchange built by ICE (the parent company of the New York Stock Exchange) is also expected to launch a Bitcoin market – officially on January 24th.
However, the company has recently delayed the listing of Bitcoin futures citing the unforeseen increase for its futures product – and saying that it needs additional time to prepare the infrastructure needed to serve a large group of investors from the United States.
“ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval. The new listing timeframe will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract,” the announcement by Bakkt read.
The stance and concerns of the US Securities and Exchange Commission (SEC) are now in the focus, mostly because this organization denied exchange-traded funds (ETFs) based on the futures market, which the SEC sees as not of significant size to handle large-scale investment vehicles.
Russian State Duma To Review Crypto Regulation: Preparing For Oil-Backed Crypto
“Perhaps the oil-backed cryptocurrency will be the pioneering project that will create a reliable structure for the cryptographic market as a whole," he concluded.
Thailand Legislative Assembly Permits Issuing Of Tokenized Securities
Texas Regulator Reaches Agreement With Four Crypto Companies It Previously Accused
“The orders cited a total of 60 individuals and entities. None of the individuals or firms were registered to sell securities in Texas.”
US Regulators Decision On BTC ETF Will Set The Mood For The Crypto Market: KRX
“The US has been the front-runner on the cryptocurrency market and related derivatives, and there are strong voices supporting the launch of Bitcoin ETFs within the market — which is why we are observing the progress and response of the US SEC’s decision on Bitcoin ETFs.”He added that the KRX is considering the provision of a solid Bitcoin index as well which will be required for the launch of such ETFs. South Korea’s blockchain market has seen the launch of blockchain ETFs by investment banks because of the incredibly lower level of scrutiny they get from the national watchdog. A professor at Korea University’s Graduate School of Information Security Lee Kyang-ho argued that the health of the blockchain sector in the country could eventually create a path for crypto ETF integration by saying:
“With the government expanding its investment in research and development of blockchain technology, the projects are expected to minimize or eliminate the risk of integrating ETF transactions in the cryptocurrency market.”
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