📊 New York State Exchange delay its Bitcoin futures trading platform
Intercontinental Exchange parent company of the NYSE, plans to launch Bitcoin futures trading and custody services on a novel product called Bakkt
The launch date was set for Jan. 24, but according to CoinDesk, Bakkt is set for a second delay due to missing approvals from the U.S. Commodity Futures Trading Commission (CFTC).
The CFTC is granting an exemption for Bakkt's to store Bitcoin for its clients as the agency's regulation mandates funds to be stored in a bank, trust company or futures commission merchant.
Unlike the CME and CBOE futures market, Bakkt's will facilitate a physical market where Bitcoin be settled rather than cash at the end of a contract.
22 Dec 2018
1 min read