NASDAQ to launch bitcoin futures

Nasdaq Inc plans to launch a futures contract based on bitcoin in 2018
30 November 2017   993

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.

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   108

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.