NASDAQ has renewed its promise to offer Bitcoin futures and plans to launch it in the first quarter of 2019 despite falling prices, unnamed sources said.
NASDAQ "Working to Satisfy" CFTC Applications
Talk to Bloomberg November 27, "two people familiar with the subject" revealed that despite the fall of Bitcoin price 00the US stock market was in the process of obtaining regulatory approval of a futures product.
According to unidentified sources, the NASDAQ "strives to address the concerns of the main US regulator of swaps, the Commodity Futures Trading Commission (CFTC), before launching the contracts," said Bloomberg.
The NASDAQ announced for the first time its intention to offer Bitcoin futures in November 2017. As a result, it was CME and CBOE that won the race to make their debut a month later. In 2018, fortunes were mixed for the instrument.
Plans were initially planned for the first half of this year but did not materialize.
The price woes fail to dampen the enthusiasm
The CFTC did not respond to a request for comment from Bloomberg, with regulators particularly silent on developments in the cryptocurrency sector this month.
As CNBC reported Tuesday Jay Clayton, chairman of the Securities and Exchange Commission (SEC), another organization, declined to comment to mainstream media on the status of exchange-traded fund legislation updates ( ETF) and ICOs.
If NASDAQ were successful in launching a futures product in the first quarter in the meantime, it would likely follow suit on the physical bitcoin futures that were to enter the market from Bakkt on January 24th.
Initially scheduled for December 12, regulatory considerations also led to a delay, with officials stressing the need to "put all the elements in place" in advance.
"As is often the case with product launches, new processes, risks and mitigation measures are to be tested and retested, and in the case of cryptography, a new class of products." Assets to which these resources are applied, "Kelly Loeffler, general manager, said last week.
NASDAQ is now active elsewhere in the world of cryptography, recently claiming that its market surveillance technology could help stop the manipulation of the market.
What do you think about potential NASDAQ projects for the future of Bitcoin? Let us know in the comments below!
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