Explosion of Bitcoin Interest 🚀
The U.S. Commodity Futures Trading Commission (CFTC) expects to see more companies apply to become federally-regulated clearinghouses as a result of growing interest in cryptocurrencies
First seen on COINDESK:
Giancarlo addressed LabCFTC, the regulator’s fintech research group created to keep up with changing technology.
During his remarks, the Chairman highlighted blockchain and cryptocurrencies as two aspects of “rapidly changing markets and technological developments.”
Testimony of Chairman J. Christopher Giancarlo
“The Commission anticipates new applications for clearinghouse registration resulting from the explosion of interest in cryptocurrencies; an area in which protection of the cryptocurrencies will be one of the highest risks.”
Car's 2 Satoshi's:
Seems the regulators in the space are looking for any reason to give the industry a green light. All signs look to be pointing for 2021 We need more than just a few Crypto derivatives providers like LedgerX who operates as a clearinghouse already, while platforms like ErisX and Bakkt are still waiting for the CFTC to approve their applications to become derivatives clearing organizations (DCOs), which is a necessary designation to operate as a clearinghouse.
Testimony Link from Giancarlo