South Korea bans bitcoin futures

The financial regulator of South Korea banned securities firms to introduce bitcoin futures trading
08 December 2017   1555

On Wednesday, the Financial Services Commission of Korea issued the directive that bans securities firms from intermediating bitcoin futures transactions. Financial regulator doesn’t recognize bitcoin as an underlying asset of derivative products so bitcoin cannot be a subject for futures trading.

Two companies, eBest Investment & Securities Co. and Shinhan Financial Investment Co. planned to introduce bitcoin futures trading, but now they canceled seminars for bitcoin futures investors slated for the 14th and the 15th, respectively.

It is the first time for the South Korean authorities to ban trading a specific item. It seems that they made such decision worrying about if it gets out of control as they haven’t taken a position on cryptocurrency.


The Financial Services Commission of Korea statement

The news comes as Futures Industry Association (FIA) chief executive Walt Lukken said in an open letter to the Commodity Futures Trading Commission that FIA members are concerned that they will have to pay for any outstanding contracts caused by price changes in bitcoin, rather than the groups which are actually selling the futures products.

Lightning Desktop App to be Launched in BTC Mainnet

The application, which is based on the lightweight Neutrino client, is available for the macOS, Windows and Linux, however, it's oriented fro test environment
24 April 2019   146

Lightning Labs, a leading developer of solutions for the Lightning Network, announced the launch of its desktop wallet in the main Bitcoin network. An application that was previously tested in a test network is available in the alpha version.

The application, which is based on the lightweight Neutrino client, is available for the operating systems macOS, Windows and Linux, however, as the developers emphasize, is still oriented primarily to the test environment. At the same time, more advanced users can also experiment with the wallet interface and get access to their funds.

Lightning App Desktop Version Screenshot
Lightning App Desktop Version Screenshot

The Neutrino client allows non-custodial Lightning wallets to verify Bitcoin transactions without the need to synchronize with the full version of the blockchain.

The new release includes such a function as displaying a single balance, which will allow users to see the cumulative number of coins both in the network base and in the payment channels by percentage.