Following the launch of Bakkt’s Bitcoin (BTC) futures, the company listed three reasons why the event is an important milestone for the industry. In a statement on Sept. 23, Bakkt CEO Kelly Loeffler emphasized that the successful launch of Bakkt Bitcoin Futures contracts is the first time when United States-regulated, physically settled Bitcoin futures became available. Loeffler pointed out that the sole fact that such a product now exists may matter more than the precise details of the initiative. Loeffler: Regulated markets accelerate the adoption of digital assets Stressing that the launch of the service is an important step to …
This interview has been edited and condensed. I don’t normally write the stories here at Cointelegraph — I edit them. But when I got an email from a publicist asking if I was interested in speaking with Ben Mezrich, author of “Bitcoin Billionaires,” and oh, did I want the Winklevoss twins to jump in on the interview? I couldn’t say no. Ben had the lucky chance — as he calls it — to already have an in with Cameron and Tyler Winklevoss, as they had been portrayed as the Men of Harvard, slightly “bad” guys in his book that ended …
Intercontinental Exchange (ICE)-lead institutional cryptocurrency trading platform Bakkt is considering acquiring a New York BitLicense to launch its bitcoin futures, Bloomberg reports on April 18. Bakkt has seen resistance from the United States Commodity Futures Trading Commission (CFTC) to approve its bitcoin futures because of its intentions to custody user’s assets. Bloomberg quotes anonymous sources familiar with the situation, stating that to ease the concerns of the regulator, the company is considering acquiring a license from New York financial regulators. The CFTC recognizes state bank and trust licenses and could potentially allow the listing of futures if Bakkt obtained a …
Institutional Bitcoin (BTC) trading platform Bakkt has announced it has launched its custody feature for its entire client base following regulatory approval. Bakkt: custody is “critical link” in BTC adoption In a blog post on Nov. 11, Bakkt said it had received the go-ahead from the New York Department of Financial Services (NYDFS) to offer custody services to any institution. Previously, the option was only available for those trading its Bitcoin futures. Commenting on the release, Bakkt described the custody tool as “the critical link in the institutional adoption of Bitcoin.” “Safely storing digital assets demands a comprehensive approach to …
The United States Securities and Exchange Commission’s chairperson Gary Gensler announced this month that the crypto industry should not escape the purview of the regulator. He highlighted that decentralized finance (DeFi) trading and lending protocols need particular attention when it comes to investor protections. Regulation can extend into a menu of options that covers custody, reporting, counterparty verification and asset classification and issuance. Reports are surfacing that people are waiting with bated breath on how the SEC will regulate the DeFi industry, but Germany's Federal Financial Supervisory Authority, also known as BaFin, has found a way to apply existing securities …