NASDAQ to launch bitcoin futures

Nasdaq Inc plans to launch a futures contract based on bitcoin in 2018
30 November 2017   614

The world's second largest stock exchange, National Association of Securities Dealers Automated Quotations (Nasdaq) plans U.S. derivatives contracts related to the digital currency as early as the second quarter of 2018. Cantor Fitzgerald LP intends to offer a bitcoin derivatives platform on its exchange around the same time.

However, NASDAQ is hardly the first player from the traditional finance world to launch bitcoin based futures. CME Group, the world’s largest derivatives exchange, and CBOE Holdings, have both announced their plans to launch futures products based on bitcoin this year, pending regulatory approval.

One of the ways the Nasdaq futures product will differ from CME’s and CBOE’s is that it will be based on an index that takes in prices from more than 50 bitcoin exchanges. CME has said it’s bitcoin future will be based on the CF Bitcoin Reference Rate (BRR), when CBOE will price its bitcoin future off the Gemini Trust.

2k Confiscated BTC Created Issue for Finland Authorities

Authorities of Finland had faced bureaucratic problems while trying to handle seized crypto coins
20 February 2018   6

Finland is trying to solve confiscated Bitcoin storing issue. This is reported by Bloomberg.

The crux of the problem is that authorities handling the coins won’t be able to store them on virtual currency exchanges due to bureaucratic problems. They have to store them offline. This is said in the documents, seen by the Bloomberg.

Most of the coins have been confiscated in raids conducted since 2016. There is no info how the coins were stored until now.

The official guidelines states that Finland authorities can’t treat Bitcoin or its crypto competitors like a currency. It’s an asset that, as a rule, can’t be used or accepted as a means of payment or as an investment, according to the Treasury document.

Cryptocurrencies seized by the Finnish state can be converted into euros after a court ruling on their appropriation has become binding. The sales should primarily take place via public auctions rather than commercial exchanges, which can be untrustworthy and opaque, the Treasury said.

Finnish state can convert seized crypto to euros only after a court ruling on their appropriation has become binding. The sales should primarily take place via public auctions rather than commercial exchanges the Treasury said.