The Bitcoin news that the CFTC considers the digital currency a commodity brings some clarity to Bitcoin regulation.CFTC Defines Bitcoin and Digital Currencies as Commodities. for facilitating the trading of Bitcoin options.Bitcoin and Ethereum have looked close to bubble territory lately.
Founded in 2013, institutional bitcoin derivatives trading and clearing platform Ledgerx has been approved by the CFTC as a fully-regulated bitcoin options exchange.In first action against an unregistered bitcoin options trading platform, CFTC holds that bitcoin and other virtual currencies are a commodity covered by the.The CFTC Asserts Jurisdiction Over Digital Currency Platform. and sellers of standardized Bitcoin options and futures.
The U.S. Commodity FuturesCommission said on Monday it has granted New York-based LedgerX,a bitcoin options exchange, the first ever license to clear andsettle.The Chicago Board Options Exchange, hereafter CBOE, and Bitcoin exchange Gemini announced a joint agreement on Aug. 2. As part of the deal, Gemini will supply data to support the CBOE in a future listing of Bitcoin derivatives.
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CFTC Brings First Bitcoin Enforcement Action, Further Clarifying U.S. sellers of Bitcoin option.Be warned, however, because most of these exchanges have hidden fees,.LedgerX is the first company to be approved by the Commodity Futures Trading Commission to trade Bitcoin options.If approved by the government, investors will be able to trade derivatives based on bitcoin prices.The New York-based company is awaiting approval from the Commodity Futures Trading Commission.Flip flop — Feds target Bitcoin options site, declare cryptocurrencies as commodities CFTC had previously told firms that they needed to register, comply with US law.
The CFTC noted that this decision does not constitute endorsement of the use of Bitcoin or other digital currencies.In a statement, Gemini CEO does note that security and compliance remain at the forefront.On July 6, the U.S. Commodity Futures Trading Commission (CFTC). (SEF). It has, thereby, approved bitcoin options trading for hedge funds, CTAs,.
Bitcoin is now a commodity according to the Commodity Futures Trading Commission.