United States regulator the Commodity Futures Trading Commission (CFTC) is actively working to approve multiple crypto-related applications, including for Bitcoin (BTC) futures from institutional trading platform Bakkt. A CFTC commissioner revealed the news in remarks to cryptocurrency news network Blocktv in an interview on March 19. Answering a question about the status of Bakkt’s application, which has seen multiple delays, commissioner Dan Berkovitz avoided a direct update on the project, instead saying that the CFTC was trying to assist all cryptocurrency-related products in obtaining the necessary approval for launch in the U.S. “We have a very interactive process with all …

Much-anticipated crypto platform Bakkt’s plans to store customers’ Bitcoin (BTC) from its Bitcoin futures could cause further delay on obtaining approval from United States regulator the Commodity Futures Trading Commission (CFTC). The news was reported by the Wall Street Journal (WSJ) on March 21, citing anonymous sources. When Bakkt was first announced back in August, the platform had revealed that its first product would be Bitcoin futures that are physically delivered daily, subject to CFTC approval. Bakkt also said that it planned to hold Bitcoin on behalf of its clients via its “physical warehousing.” According to “people familiar with the …

The Chicago Board Options Exchange (CBOE) will not add a new Bitcoin (BTC) futures market in March, the firm said in a statement on March 14. Per the statement, CBOE is re-evaluating how it approaches trading digital assets. CBOE said: “CFE is not adding a Cboe Bitcoin (USD) (“XBT”) futures contract for trading in March 2019. CFE is assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading. While it considers its next steps, CFE does not currently intend to list additional XBT futures contracts for trading.” The currently listed futures, XBTM19, …

Physically delivered crypto futures exchange Coinflex has attracted two more high-profile crypto investors, Digital Currency Group and Polychain Capital, the exchange tweeted on March 12. The new investors have joined Coinflex’s investor consortium, which includes major market making and venture capital names such as Dragonfly Capital Partners, Trading Technologies and Roger Ver. In the same announcement, Coinflex introduced its FLEX Coin, which is designed to encourage liquidity and reward early traders on the platform. Traders will be paid a certain amount of FLEX based on the proportion of the volume they trade, relative to the total daily volume on the …

On Feb. 17, the United States Commodity and Futures Trading Commission (CFTC) stopped accepting public comments regarding the Ethereum (ETH) mechanism. Previously, as 2018 was drawing to a close, the agency requested the feedback on the cryptocurrency to better understand the technology and how it compares to Bitcoin (BTC). The CFTC, which oversees the futures and options market in the U.S., has long determined that Bitcoin is a commodity, and therefore falls into its regulatory purview. In December 2017, the agency allowed two major regulated exchanges — the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE) — …

Indonesia’s commodity futures regulator has established a legal framework for operating crypto and digital assets futures markets, according to an official press release published on Feb. 18. The Indonesian Commodity Futures Trading Supervisory Agency (Bappebti), which operates under Indonesia’s Ministry of Trade, has officially required multiple entities involved in crypto futures trading to seek regulatory approval and apply for registration before legally operating in Indonesia. The news follows the recent release of legislation that officially recognizes Bitcoin (BTC) and other digital assets as trading commodities. The Bappebti first greenlighted crypto trading as a commodity on Indonesian stock exchanges back in …

Chicago-based crypto exchange ErisX has filed a comment letter with the United States Commodity Futures Trading Commission (CFTC) in response to the agency’s request for feedback on Ethereum (ETH)’s mechanics and market. The letter, submitted on Feb. 15, sets forth the exchange’s belief that “the introduction of a regulated futures contract on Ether would have a positive impact on the growth and maturation of the market.” As reported, ErisX is a reboot of traditional futures market Eris Exchange, and is expected to begin support for spot trading in Bitcoin (BTC), Ethereum and Litecoin (LTC), as well as futures contracts, in …

Cryptocurrency traders are unhappy with regulators in Indonesia after it emerged Bitcoin (BTC) brokers now needed over $70 million to launch futures trading. Local English-language news outlet Jakarta Post reported on the development on Feb. 14. Following new regulations which came into effect last October, trading platforms wishing to offer cryptocurrency-based instruments can do so, while cryptocurrency use remains banned. However, in a surprise addition to the final bill, those trading platforms are required to have 1 trillion rupiah ($71.17 million) minimum capital. This, objectors note, dwarfs the equivalent capital needed to begin trading traditional commodities, which is 2.5 billion …

Reality Shares ETF Trust — a unit of crypto-focused fintech firm Blockforce Capital — has filed a proposal for an exchange-traded-fund (ETF) that would invest in a portfolio which includes both sovereign debt instruments and Bitcoin (BTC) futures.The ETF filing was submitted to the United States Securities and Exchange Commission (SEC) Feb 11. ETFs are securities that track a basket of assets proportionately represented in the fund’s shares. They are seen by some as a potential ‘holy grail’ that would herald the widespread adoption of cryptocurrencies as a regulated and passive investment instrument. The proposed fund, to be listed on …

United States cryptocurrency exchange Kraken has acquired United Kingdom-based cryptocurrency exchange and futures provider Crypto Facilities, the company confirmed in a press release Feb. 4. Crypto Facilities, which began operating in 2015, is fully regulated by the U.K.’s Financial Conduct Authority, giving Kraken a major foothold in the European market. The parties declined to reveal the exact figure involved in the deal, saying only that it was a “nine-figure deal.” “We are excited to introduce eligible clients to these industry leading futures and index products,” Kraken CEO Jesse Powell commented in the press release, adding: “Over the coming months, our …

On Jan. 29, the valuation of the crypto market plunged by more than $10 billion within a 48-hour period, from $121 billion to $111 billion. Major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) recorded losses in the range of 5 to 10 percent against the United States dollar, demonstrating poor momentum. Throughout the past several months, the cryptocurrency market has demonstrated volatility in a low price range, unable to break out of key resistance levels. What were the major factors of this week’s drop? While some analysts have said that the drop was triggered by technical factors over fundamental, …

Bakkt, the cryptocurrency platform created by the operator of the New York Stock Exchange (NYSE), announced that they are hiring for a number of high-up positions in a tweet Jan. 22. The Intercontinental Exchange’s (ICE) much-awaited crypto platform published a list of eight evidently new vacancies at the company, all of which are based in Atlanta and New York City. Some of the positions also have Hong Kong, Tokyo, San Francisco, London, Tel Aviv and Singapore listed as available locations. The page specifies that the company is mostly trying to hire a number of developers, mostly at director and senior …