The CFTC formally approves the LedgerX Registered Encrypted Currency Swap Execution Agency


nnnRTC: The US Commodity Futures Trading Commission (CFTC) formally approved the block chain start-up company LedgerX to become a swaps trading agency (SEF). Since then, LedgerX has become the second company to be granted a digital currency derivative transaction. But the company is still struggling to gain approval to register as the first derivative liquidation agency (DCO) to trade digital currency.n
nnTranslation: Clovern
nThe US Commodity Futures Trading Commission (CFTC) officially approved the chain-chain start-up company, LedgerX, to become a swaps trading company (SEF), making it the second company to be granted a digital currency derivative transaction.n
nAlthough this is an important milestone, it is only the latest development of LedgerX’s long process, and this long process is far from over. The final regulatory approval is still pending approval to eventually become the first CFTC approved currency option company, which can operate any number of encrypted currencies (including Bitcoin and Taitong).n
nLedgerX CEO Paul Chou said to CoinDesk:n
nn”We are pleased to be approved by the CFTC and have been fully registered as a swaps trading agency that can trade digital currency derivatives.”n
nnLedgerX was founded in 2013 and was temporarily approved as SEF for the first time in 2015, and the latest developments have resulted in the finalization of its SEF status. Since registration today, LedgerX is required to comply with the Commodity Exchange Act (CEA) and other CFTC special regulations.n
nLast year, New Jersey’s Tera-Exchange was registered as SEF.n
nLedgerX, a New York-based start-up company, has been struggling to become the first registered derivative clearing house (DCO) to trade digital currency, and in the first half of the year, by Miami International Holdings and Huiyin Block Chain venture capital firms received $ 11.4 million in financing.n
nChou said the financing pushed LedgerX into a cusp in the establishment of an encrypted currency option market, and more institutional investors who could invest in asset classes could be able to rush into the encrypted money market and achieve more reliable hedging to help stabilize The price of money.n
n”We look forward to working with CFTC to finalize DCO’s registration,” he said.n

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