Bitcoin, Crypto currency, Blockchain

Bitcoin exchange Bakkt proposes BitLicense to CFTC Future-to convince the contracts

c2433d221c539925e014955c683e4583 - Bitcoin exchange Bakkt proposes BitLicense to CFTC Future-to convince the contracts

Bitcoin exchange Bakkt would like to BitLicense apply to the CFTC of the Future-to convince the contracts

Home News Bitcoin exchange Bakkt would like to BitLicense apply to CFTC from Futures contracts to convince

Of
Marcel Knobloch –
21.04.2019

The Bitcoin exchange Bakkt waiting still in vain for their supposed approval of the Bitcoin Futures contracts, whose application is now already several months back. The CFTC is working with high pressure on it, but so far without any significant success. Meanwhile, Bakkt want to apply for a BitLicense in order to convince the CFTC of your larger projects.

Bakkt, an institutional trading platform for crypto currencies, which is operated by the Intercontinental Exchange (ICE), according to Reports, about to apply for a New York BitLicense. Since the CFTC seems to continue to have strong concerns with regard to the approval of Bitcoin Futures, said experts, that Bakkt believes, with the help of the New York of the concerns of the Komi BitLicense to relieve Sion, and a permit to enter. Although the fate of the crypto industry does not depend on this one event, but many industry experts will see with this step, great potential, both for the access of the masses to Bitcoin and co. but also to a positive impact on the courses.

Institutional investors drove the mass acceptance in the industry making a decisive impact, however, the CFTC is this project still in the way. Bakkt wanted to move Penionskassen, foundations and similar institutions that have little capital left to invest money in the crypto market. The main regulatory authority of the United States, the Commodity Futures Trading Commission (CFTC), however, still problems in the way, such as deposits held by customers, and data should be protected from tampering and theft. Sources that the ICE is considering to apply for a license in the New York financial supervision authority, to the Custody solutions can be managed, said three of the project officers.

Bloomberg bercihtet that the CFTC state Bank and trust recognizes licenses and the ICE-could lists Futures through a self-certification procedure when it receives from the tax authority for permission to hold tokens and to manage. On an official request to the regulatory authority, however, there was only the feedback that you are not going to comment on this incident. Actually, Bakkt for December last year was planned, but the date shifted to the 24.01.2019, and then again and again, so that the project has now been postponed “indefinitely” for the time being. Nevertheless, Bakkt a driving force behind the developments, including important property was acquired values of the Rosenthal-Collins group and high-profile executives from related companies like PayPal and IBM have been set.

Featured Image: Wit Olszweski| Shutterstock

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