Fun

CFTC Approves New Cryptocurrency Derivatives Platform — Bitnomial to Offer Regulated Bitcoin Futures

News Feed - 2020-04-21 02:04:47

CFTC Approves New Cryptocurrency Derivatives Platform — Bitnomial to Offer Regulated Bitcoin Futures


The U.S. Commodity Futures Trading Commission (CFTC) has approved a new bitcoin derivatives trading platform. Bitnomial Exchange will list margined and physically delivered bitcoin futures and options. Besides Bitnomial, the CFTC has only approved a handful of other platforms to offer bitcoin derivatives trading, such as CME, Cboe, and Bakkt.CFTC Approves New Bitcoin Derivatives Exchange


The CFTC announced Monday that it has issued an order granting Chicago-based Bitnomial Exchange status as a designated contract market (DCM), effective on the same day. The U.S. top derivatives regulator explained that after reviewing Bitnomial’s application and associated exhibits:The CFTC determined that Bitnomial Exchange demonstrated its ability to comply with the requirements of the CEA [Commodity Exchange Act] and the CFTC’s regulations applicable to DCMs.The U.S. Commodity Futures Trading Commission (CFTC) has approved Chicago-based Bitnomial Exchange as a designated contract market (DCM).


According to the CFTC, designated contract markets “are exchanges that may list for trading futures or option contracts based on all types of commodities and that may allow access to their facilities by all types of traders, including retail customers.”


With Monday’s approval, Bitnomial Exchange must comply with all provisions of the Commodity Exchange Act, the CFTC’s requirements, and representations it submitted as part of its application for designation as a contract market.Bitnomial to List Margined and Physically Delivered Bitcoin Futures and Options


Bitnomial is a bitcoin derivatives exchange founded in 2014. The company filed an application with the CFTC to operate an exchange for deliverable cryptocurrency derivatives in 2016. In 2018, it raised Series A funding from investors, such as Jump Capital, Coinbase Ventures, Digital Currency Group, and RRE Ventures.Bitnomial Exchange plans to list margined and physically delivered bitcoin futures and options after it was approved by the CFTC on Monday as a designated contract market.


According to the Bitnomial, the CFTC has approved its exchange “for U.S. bitcoin futures and options trading with margin and physical delivery.” Three bitcoin derivatives products are listed on Bitnomial’s website: Bitcoin U.S. Dollar Futures, Deci Bitcoin U.S. Dollar Futures, and Bitcoin U.S. Dollar Options. The company added:Bitnomial will list margined and physically delivered bitcoin futures and options, the first and only startup exchange to achieve these capabilities.


The CFTC has to date only approved a handful of trading platforms — CME, Cboe, Bakkt, Erisx, and Ledgerx — to offer bitcoin derivatives products. Cboe stopped offering bitcoin futures early last year.


What do you think about the CFTC approving a new bitcoin derivatives exchange? Let us know in the comments section below.South Africa Proposes 30 Rules to Regulate CryptocurrencyREGULATION | 2 days agoRegulatory Roundup: 10 Countries Actively Regulating Cryptocurrency Despite Global CrisisREGULATION | Apr 6, 2020Tags in this storyBitcoin, Bitcoin derivatives, bitcoin futures, bitcoin futures exchange, bitcoin futures trading, bitcoin options, BTC, BTC Futures, CFTC, crypto, crypto futures, cryptocurrency futures


Image Credits: Shutterstock, Pixabay, Wiki Commons, Bitnomial ExchangeUse Bitcoin and Bitcoin Cash to play online casino games here.Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Read disclaimer Show comments

News Feed

Insights from Token2049: How crypto wealth is made
Marco Castrovilli6 hours agoInsights from Token2049: How crypto wealth is madeAttendees at Token 2049 in Dubai shared their personal stories on how they became rich.460 Total views14 Total sharesCointelegraph YouTube Sub
David Attlee13 hours agoFinland works on instant payments system, embraces digital euroThe Bank of Finland actively promotes the development of new forms of payment.1491 Total views5 Total sharesListen to article 0:00New
Helen Partz1 hour agoCoinbase crypto exchange obtains payment license in SingaporeThe new MPI license comes one year after Coinbase’s initial in-principle approval in Singapore, enabling it to expand digital payment to
Pump.fun daily revenue outpaces the next 24 protocols combined
Tom Mitchelhill3 hours agoPump.fun daily revenue outpaces the next 24 protocols combinedSolana memecoin deployer pump.fun has generated more than $5.3 million in revenue in the last 24 hours, out-earning Ethereum, Solana
Binance ends support for Bitcoin Ordinals
Ana Paula Pereira4 hours agoBinance ends support for Bitcoin OrdinalsBinance NFT marketplace will cease supporting trades and deposits of Bitcoin Ordinals on April 18.1479 Total views5 Total sharesListen to article 0:00N
Ana Paula Pereira4 hours agoSEC’s Gensler is loyal to banks, not an impartial regulator — Rep. Tom EmmerDuring a hearing on Sept. 27, Emmer hinted that Gary Gensler’s Wall Street background limits his impartiality
Dogecoin Must Hold This Support Or Risk Crashing To $0.015, Analyst Warns
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin Coinbase Premium Giving Potential Buy Signal, Quant Says
Este artículo también está disponible en español. A quant has explained how the latest trend in the Bitcoin Coinbase Premium Index could imply a buying opportunity for th
US Indicts Hackers Stealing $17M in Bitcoin and Ether From Binance, Poloniex, Gemini Users
US Indicts Hackers Stealing $17M in Bitcoin and Ether From Binance, Poloniex, Gemini UsersTwo people have been charged in the U.S. for allegedly using “a sophisticated market
Nigeria’s SEC boss says crypto can aid 38M unbanked
Amaka Nwaokocha12 hours agoNigeria’s SEC boss says crypto can aid 38M unbankedEmomotimi Agama noted that cryptocurrencies like Bitcoin can considerably lower remittance costs, making it easier and cheaper for Nigerians
Bitcoin price taps $64.7K as US CPI shows core inflation at 3-year low
William Suberg9 hours agoBitcoin price taps $64.7K as US CPI shows core inflation at 3-year lowBitcoin gets a much-needed boost from increasing optimism about the Federal Reserve’s course to cutting interest rates.4758
Report Shows Crypto Startups Raised $30.3 Billion in H1 2022, Exceeding Total Raised in 2021
Report Shows Crypto Startups Raised $30.3 Billion in H1 2022, Exceeding Total Raised in 2021 While cryptocurrency markets have seen poor performances during the first two quarters