News Futures Grow Closer For LedgerX And Cryptocurrency

Futures Grow Closer For LedgerX And Cryptocurrency

-

- Advertisment -




The US Commodity Futures Trading Commission (CFTC) issued an Order of Registration to LedgerX, a company backed by Google Ventures. LedgerX was granted status as a Swap Execution Facility, a designation that was created under Dodd-Frank.

Yesterday, July 6, 2017, the CFTC issued an Order of Registration for LedgerX, an institutional derivatives exchange platform for cryptocurrencies. The Delaware-based LedgerX was granted status as a Swap Execution Facility (SEF), a title that was authorized through the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. LedgerX is the second company to receive SEF status, following TeraExchange in 2016.

According to the CFTC’s release, “SEFs are platforms that operate under the CFTC’s regulatory oversight for the trading of swaps.” LedgerX awaits registration as a derivatives clearing organization.

Under section 5b of the Commodity Exchange Act, the company must possess a clearing agreement with a derivatives clearing organization. LedgerX also must submit “revisions of its rulebook and other pertinent registration materials” to the CFTC before it may list “an intended to be cleared swap.”

LedgerX could not be reached for comment at the time of publication.

Matthew is a writer with a passion for emerging technology. Prior to joining ETHNews, he interned for the U.S. Securities and Exchange Commission as well as the OECD. He graduated cum laude from Georgetown University where he studied international economics. In his spare time, Matthew loves playing basketball and listening to podcasts. He currently lives in Los Angeles.

Source link

Latest news

Why could GLBrain become a great solution to receive support during the crisis?

To support smaller and medium-sized businesses during the ongoing crisis, GLBrain offers services cost-free for all Austrians....

Make Fast and Secure Trades Using Bitengo.io

Bitengo.io is a Cryptocurrency trading platform that allows users to buy and sell their Cryptocurrency in a...

Network Security Using Cryptography: Everything you need to know

This article will describe what is Network Security Using Cryptography and everything you need to know before...

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange,...
- Advertisement -Futures Grow Closer For LedgerX And Cryptocurrency

Fungibility: Bitcoin Mixers Favorite Term That No One Understands

Fungibility, perhaps the most important concept when dealing with a decentralized and anonymous currency, but does bitcoin...

Crypto can’t thrive in the real world – but stablecoins can

We can safely say that the hype about cryptocurrencies is pretty much over. The claims of Bitcoin...

Must read

Make Fast and Secure Trades Using Bitengo.io

Bitengo.io is a Cryptocurrency trading platform that...
- Advertisement -Futures Grow Closer For LedgerX And CryptocurrencyFutures Grow Closer For LedgerX And Cryptocurrency

You might also likeRELATED
Recommended to you