TLDR:
LedgerX is a Bitcoin Options Exchange. The US Gov't has granted it the 1st license to clear & settle digital currency contracts/derivatives.
They were also granted a license to operate as a swap execution facility early this month.
The U.S. Commodity Futures Commission is the agency involved here:
This license took 2+ years to win approval on, partly because of a long education process, said the company CEO Paul Chou - as well as needing to secure $11.4 million in funding
Screen captures from the Reuters News article released.... I have included the transcript there for you in writing below also if you cannot see them well.
This news is being under reported or at least noticed, IMHO. There are a lot of legit news sources discussing this.
Why is Mainstream Media Crypto coverage important?
We are seeing more and more "mainstream media reporting on Crypto Currency and Blockchain news.
This is key for mass adoption and for the more statist news consumers to get this on their radar as they see mainstream media as legit sources of info, as sad as it is to say that, as we know in the Liberty space.
Unedited Content from Reuters:
NEW YORK (Reuters) - The U.S. Commodity Futures Commission said on Monday it has granted New York-based LedgerX, a bitcoin options exchange, the first license to clear and settle derivative contracts for digital currencies.
The license authorizes LedgerX to provide clearing services for fully collateralized digital currency swaps. LedgerX, which was also granted a license to operate as a swap execution facility early this month, initially plans to clear bitcoin options, the CFTC said in a statement.
The CFTC, however, also clarified in its statement that the approval of LedgerX's license "does not constitute or imply a commission endorsement of the use of digital currency generally, or bitcoin specifically."
With the settlement and clearing license, participants in the LedgerX trading platform will be able to hedge bitcoin and other digital currencies using exchange-traded and centrally cleared option contracts. Initially, LedgerX expects to list one- to six-month options contracts for bitcoin. Other digital currency contracts such as ethereum (ETH) options are expected to follow.
Ethereum is another online public ledger much like bitcoin, but with self-executing transactions.
"Having a regulated clearing house will open the market to a lot of other investors such as the large institutions," said Paul Chou, chief executive officer of LedgerX, in an interview.
"A proper regulatory framework will open up the market and make them comfortable."
The license took more than two years to win approval partly because of a long education process, said Chou, who also sits on the CFTC's Technology Advisory Committee.
To get the clearing license, LedgerX secured $11.4 million in funding in May led by Miami International Holdings Inc and China's Huiyin Blockchain Venture Investments.
"We are seeing strong demand from institutions that previously could not participate in the bitcoin market due to compliance restrictions against unregulated venues," said Chou.
He said fund managers want to hold financial instruments that are not correlated with the broader equity market, and digital currencies meet that need.
Founded in 2013, LedgerX first received a temporary approval to operate as a swap execution facility in 2015.
More Reading:
--
http://www.cnbc.com/2017/07/24/you-may-soon-be-able-to-trade-options-on-bitcoin-ethereum.html
http://fortune.com/2017/07/25/ledgerx-short-bitcoin-cryptocurrency/
http://www.itproportal.com/news/ledgerx-will-be-first-us-federally-regulated-cryptocurrency/
Thanks for reading, have a nice day.
If you liked this blog post - please Resteem it and share good content with others!
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Some of my recent blogs:
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Images / Gif's - usually via Giphy.com , Funny or Die.com, Imgur.com, PixaBay unless otherwise noted, with thanks.
Images: FintekNews, Bitcoin Magazine, Bitcoin News
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
--
Bitcoin (BTC) - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
Synereo (AMP) - 1KnrL6wFHaT4gjJ2YJ5f6WmKTDJNsaBS8s
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
TLDR:
LedgerX is a Bitcoin Options Exchange. The US Gov't has granted it the 1st license to clear & settle digital currency contracts/derivatives.
They were also granted a license to operate as a swap execution facility early this month.
The U.S. Commodity Futures Commission is the agency involved here:
This license took 2+ years to win approval on, partly because of a long education process, said the company CEO Paul Chou - as well as needing to secure $11.4 million in funding
Screen captures from the Reuters News article released.... I have included the transcript there for you in writing below also if you cannot see them well.
This news is being under reported or at least noticed, IMHO. There are a lot of legit news sources discussing this.
Why is Mainstream Media Crypto coverage important?
We are seeing more and more "mainstream media reporting on Crypto Currency and Blockchain news.
This is key for mass adoption and for the more statist news consumers to get this on their radar as they see mainstream media as legit sources of info, as sad as it is to say that, as we know in the Liberty space.
Unedited Content from Reuters:
NEW YORK (Reuters) - The U.S. Commodity Futures Commission said on Monday it has granted New York-based LedgerX, a bitcoin options exchange, the first license to clear and settle derivative contracts for digital currencies.
The license authorizes LedgerX to provide clearing services for fully collateralized digital currency swaps. LedgerX, which was also granted a license to operate as a swap execution facility early this month, initially plans to clear bitcoin options, the CFTC said in a statement.
The CFTC, however, also clarified in its statement that the approval of LedgerX's license "does not constitute or imply a commission endorsement of the use of digital currency generally, or bitcoin specifically."
With the settlement and clearing license, participants in the LedgerX trading platform will be able to hedge bitcoin and other digital currencies using exchange-traded and centrally cleared option contracts. Initially, LedgerX expects to list one- to six-month options contracts for bitcoin. Other digital currency contracts such as ethereum (ETH) options are expected to follow.
Ethereum is another online public ledger much like bitcoin, but with self-executing transactions.
"Having a regulated clearing house will open the market to a lot of other investors such as the large institutions," said Paul Chou, chief executive officer of LedgerX, in an interview.
"A proper regulatory framework will open up the market and make them comfortable."
The license took more than two years to win approval partly because of a long education process, said Chou, who also sits on the CFTC's Technology Advisory Committee.
To get the clearing license, LedgerX secured $11.4 million in funding in May led by Miami International Holdings Inc and China's Huiyin Blockchain Venture Investments.
"We are seeing strong demand from institutions that previously could not participate in the bitcoin market due to compliance restrictions against unregulated venues," said Chou.
He said fund managers want to hold financial instruments that are not correlated with the broader equity market, and digital currencies meet that need.
Founded in 2013, LedgerX first received a temporary approval to operate as a swap execution facility in 2015.
More Reading:
--
http://www.cnbc.com/2017/07/24/you-may-soon-be-able-to-trade-options-on-bitcoin-ethereum.html
http://fortune.com/2017/07/25/ledgerx-short-bitcoin-cryptocurrency/
http://www.itproportal.com/news/ledgerx-will-be-first-us-federally-regulated-cryptocurrency/
Thanks for reading, have a nice day.
If you liked this blog post - please Resteem it and share good content with others!
--
Some of my recent blogs:
--
Images / Gif's - usually via Giphy.com , Funny or Die.com, Imgur.com, PixaBay unless otherwise noted, with thanks.
Images: FintekNews, Bitcoin Magazine, Bitcoin News
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
--
Bitcoin (BTC) - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
Synereo (AMP) - 1KnrL6wFHaT4gjJ2YJ5f6WmKTDJNsaBS8s
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.