CME releases relevant Bitcoin futures details

Now the CME Bitcoin futures launch may be delayed
01 December 2017   1129

Chicago Mercantile Exchange Group Inc stated on their website that effective Q4 2017, and pending all relevant regulatory review periods, please be advised that Bitcoin futures will be launched. The relevant bit being about relevant regulatory review periods.

Right when all the rage about Bitcoin futures is taking place around the world, even NASDAQ has jumped on the bandwagon yesterday, promising their own futures to release in 2018, CME updated their site with new bit of info many will find disappointing. As of today, the page about upcoming CME Bitcoin futures received a red-highlighted note of launch being postponed pending regulatory review.

Miners and BTC traders all over the world wait for the CME to join the market. Founded more than a century ago, Chicago Merc right now is the largest futures exchange company. Their entrance in the BTC trading would have a severe impact on the system, providing the alternative to current trading platforms.

The delay is caused by the Commodity Futures Trading Commission (CFTC) demanding changes to some aspects of contracts as quoted from the CFTC spokesperson's, Ms Erica Elliott Richardson, interview. The concerns about bitcoin futures expressed by some market participants has played a large role in the ongoing closer examination, she revealed. Also, as said, the CFTC staff will be holding the stress testing and risk-monitoring activities once the contracts are launched.

All this information strongly contributes to the skeptics' doubt, that the launch will take place this year. Right now no further information about possible launch date is released by either CME themselves or other market participants.

BitPay to Receive New York's BitLicense

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers
17 July 2018   102

The well-known cryptocurrency processing service BitPay obtained a license to work with virtual currencies in the state of New York. Known also as BitLicense, this license is issued by the New York Department of Financial Services (NYDFS) and grants its holders the ability to conduct activities related to cryptocurrencies in the state.

NYDFS has carefully studied the company's application, including its policy on measures to combat money laundering, customer identification, fraud prevention, cybersecurity. The financial situation of the company was also thoroughly analyzed.

New York state has one of the strictest policies around businesses involved in cryptocurrency and working through the approval processes to obtain a License was important to BitPay. We believe this hard work will pay off as New York presents significant business opportunities for BitPay.
 

Stephen Pair

CEO, BitPay

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers: the first will be able to use the company's processing services to accept payments in Bitcoin and Bitcoin Cash, the latter will pay for various goods and services using these two BitPay supported cryptos.

Note that BitPay was only the eighth company that received BitLicense. Other license holders are Square, Xapo, Genesis Global Trading, bitFlyer USA, Coinbase, Ripple and Circle. In addition, special permissions for operations with crypto-currencies are exchanged by Gemini and itBit.