United States regulator the Commodity Futures Trading Commission is actively working to approve multiple crypto-related applications, including for Bitcoin futures from institutional trading platform Bakkt.
A CFTC commissioner revealed the news in remarks to cryptocurrency news network Blocktv in an interview on March 19.
"But we need to ensure that a crypto product, just like any other product that's traded on our markets, meets all the standards."
Asked whether Bakkt was now receiving special treatment from the CFTC Berkovitz declined to suggest previous hold-ups had resulted in pressure to move forward.
"All of the applications before us we're working very hard on with the applicants, including that one," he added.
As reported today, the Wall Street Journal wrote that Bakkt was facing more difficulties in its road to getting the green light from regulators.
Following a lack of consensus over how the platform would handle its Bitcoin futures, discussions nonetheless do remain ongoing.
"We are working through the regulatory review process and are looking forward to updating the market soon," the publication quoted an unnamed ICE spokesperson as saying.
Bakkt, the brainchild of New York Stock Exchange owner Intercontinental Exchange, was originally slated to debut in December, but regulatory compliance hurdles saw the date pushed back several times.
At present, a vague juncture sometime in 2019 is in the cards, as regulators seem highly wary of approving related offerings, specifically a Bitcoin exchange-traded fund.
CFTC: We're 'Diligently' Working on All Crypto-Related Applications, Including Bakkt's
Published on Mar 22, 2019
by Cointele | Published on Coinage
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