Tassat Gets CFTC’s Nod to Offer Physically-Settled Bitcoin Derivatives
- The firm is planning to launch a crypto derivative exchange in the US.
Tassat has gained approval from the US Commodity Futures Trading Commission (CFTC) to offer a swap execution facility (SEF).
Officially announced on Thursday by the market regulator, the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term company is now planning to launch physically-settled Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term margin swaps.
The SEF registration was transferred by the regulator from trueEX LLC to Tassat on November 6, around four months after the two companies reached an “agreement in principle.”
“TrueEX and Tassat met the requirement for transferring a SEF registration by demonstrating that Tassat will be in compliance with provisions of the Commodity Exchange Act and CFTC regulations applicable to SEFs after the registration is transferred. There are currently 19 registered SEFs, including Tassat,” the official announcement by CFTC stated.
The CFTC has granted Tassat a swap execution facility registration, bringing it one step closer to offering US customers bitcoin derivatives products.
— Álex Fernández Fernández (@alexferfe) November 8, 2019
Apart from Tassat, LedgerX also gained a similar license from the futures regulator in 2017. TrueEx first gained the license in 2016.
Targeting a lucrative market
Though the plans with the license are set, the company did not disclose any launch date of its crypto-based services yet. Tassat is already in talks with institutional participants and also initiated testing its products.
Founded in 2018 as treuDigital, the company worked with multiple players in the industry to implement crypto-based services. Rebranded in September, the company shifted its focus in the crypto derivative sector and was planning to establish a digital asset derivatives exchange in the United States.
Crypto derivative products are becoming very popular in the global market, including the United States. Intercontinental Exchange-backed Bakkt, which offers physically-settled Bitcoin futures, recently saw a massive surge in its trading volume.
Meanwhile, the Securities and Exchange Commission (SEC) is still resistant towards Bitcoin exchange-traded products (ETFs) and rejected the proposal of Bitwise for the same last month.
Tassat has gained approval from the US Commodity Futures Trading Commission (CFTC) to offer a swap execution facility (SEF).
Officially announced on Thursday by the market regulator, the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term company is now planning to launch physically-settled Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term margin swaps.
The SEF registration was transferred by the regulator from trueEX LLC to Tassat on November 6, around four months after the two companies reached an “agreement in principle.”
“TrueEX and Tassat met the requirement for transferring a SEF registration by demonstrating that Tassat will be in compliance with provisions of the Commodity Exchange Act and CFTC regulations applicable to SEFs after the registration is transferred. There are currently 19 registered SEFs, including Tassat,” the official announcement by CFTC stated.
The CFTC has granted Tassat a swap execution facility registration, bringing it one step closer to offering US customers bitcoin derivatives products.
— Álex Fernández Fernández (@alexferfe) November 8, 2019
Apart from Tassat, LedgerX also gained a similar license from the futures regulator in 2017. TrueEx first gained the license in 2016.
Targeting a lucrative market
Though the plans with the license are set, the company did not disclose any launch date of its crypto-based services yet. Tassat is already in talks with institutional participants and also initiated testing its products.
Founded in 2018 as treuDigital, the company worked with multiple players in the industry to implement crypto-based services. Rebranded in September, the company shifted its focus in the crypto derivative sector and was planning to establish a digital asset derivatives exchange in the United States.
Crypto derivative products are becoming very popular in the global market, including the United States. Intercontinental Exchange-backed Bakkt, which offers physically-settled Bitcoin futures, recently saw a massive surge in its trading volume.
Meanwhile, the Securities and Exchange Commission (SEC) is still resistant towards Bitcoin exchange-traded products (ETFs) and rejected the proposal of Bitwise for the same last month.